Company News

Alstom: will analyse weak Bombardier results in Bombardier deal talks

PARIS, Aug 10 (Reuters) - French transport infrastructure company Alstom said on Monday that it would take into account Bombardier’s weak results earlier this month as it continues with its plans to buy Bombardier’s rail business.

Earlier this month, Canadian company Bombardier reported a quarterly loss of $319 million.

“Alstom remains convinced of the strong strategic rationale for the acquisition of Bombardier Transportation and is confident in its ability to restore in the medium term the profitability and commercial performance of the business,” Alstom said in a statement.

“However, the quarterly announcement points to unexpected and negative developments regarding Bombardier Transportation....Alstom will take into account the consequences of these operating and financial developments in forthcoming discussions with Bombardier Inc, and will update the market as required,” added Alstom.

Reporting by Sudip Kar-Gupta, editing by Louise Heavens