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Bombardier Transportation feels no pressure to join Siemens-Alstom: president

MONTREAL — The head of Bombardier Inc.’s railway division says the company feels no pressure to join Siemens-Alstom to form a giant European champion.

Laurent Troger told The Canadian Press Thursday that the Berlin-based subsidiary has the scale and reach to go it alone and strongly compete against both the proposed German-Franco rival and its larger Chinese competitor.

France’s finance minister has said he doesn’t believe the merger of Siemens and Alstom will end there, with Bombardier and other players eventually joining the fold.

Troger says such a move is not currently on Bombardier’s agenda, adding that having one less global competitor doesn’t significantly change the competitive landscape.

When the Caisse de depot struck a deal two years ago to buy a 30 per cent stake in Bombardier Transportation for US$1.5 billion, the partners were keen to participate in the anticipated railway sector consolidation.

Troger declined to confirm reports that Bombardier (TSX:BBD.B) was unable to reach a deal of its own with Siemens before watching its two European competitors unveil a deal two weeks ago to join forces.

The Bombardier Transportation president met earlier this week with Toronto Transit Commission board members to assuage concerns about its late delivery of streetcars.

Troger says the company has developed a new plan to deliver the entire order of 204 streetcars by the original contract deadline of 2019.

Ross Marowits, The Canadian Press

The post Bombardier Transportation Feels no pressure to join Siemens-Alstom: president appeared first on The Canadian Parvasi.



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