AFP, PARISAlstom SA, the maker of France’s iconic Train a Grande Vitesse high-speed trains, and German industrial leader Siemens AG on Friday signed an agreement on creating a global leader in the rail industry. The business combination agreement (BCA) sets the terms of combining Alstom with Siemens’ mobility business, including its rail traction drive business, after the two firms unveiled their plans last year. Siemens is to control 50 percent of Alstom immediately, but will be blocked from taking a bigger than 50.5-percent stake in the next four years. 2 for building train carriages, which should help the firms face rising Chinese competition. Alstom employs 32,800 people worldwide, while Siemens Mobility has 28,800 staff.

Source: Taipei Times March 24, 2018 15:56 UTC