Alstom To Acquire USA Gas Turbine Service Provider

  
    
  
  
    
      Regulatory News:
    
    
      Alstom (Paris:ALS) announced today its agreement to acquire Power 
      Systems Mfg (PSM), a subsidiary of Calpine Corporation.
    
    
      PSM, located in Florida, is a high tech company with a leading position 
      as independent provider of improved gas-turbine parts and low-Nox 
      upgrade solutions for gas turbines. Its highly qualified engineering 
      team has designed, developed and successfully introduced to market many 
      well-proven solutions on a multitude of gas turbine technologies. PSM 
      employs over 100 people and had sales of approximately $70 million in 
      2006, with an EBITDA margin above 25%.
    
    
      Alstom will pay $242 million for the acquisition and will fund it 
      through internal sources.
    
    
      The activities of PSM will be part of the Power Service Sector of 
      Alstom. This acquisition extends Alstom’s 
      technology leadership in providing customers with gas turbine efficiency 
      upgrades, and low-emission solutions in after-market sales.
    
    
      Patrick Kron, Chairman and CEO of Alstom, declared: “This 
      deal will strengthen Alstom’s position in the 
      US market, where gas turbine service shows strong growth driven by 
      increasing plant utilization and more stringent emission limits. PSM is 
      ideally positioned to benefit from the high growth of sales and profit 
      in this favourable market Alstom will give PSM the financial stability, 
      technological backing and access to a larger customer base to 
      market its products”.
    
    
      Closing is subject to receiving approval from regulatory authorities, 
      which is expected to occur shortly.
    
    
      About Alstom
    
    
      As a high-technology manufacturer, Alstom is a major market player in 
      providing services, products and systems for power generation and rail 
      transport. The company serves the infrastructure markets that ensure 
      global economic growth and social progress.
    
    
      
        Alstom is present in 70 countries
      
      
        The company is organised into three sectors, Transport for rail 
        transport, and Power Systems and Power Service for power generation.
      
      
        Group sales totalled €13.4 billion for the 
        2005-2006 financial year. They break down as follows: Europe 47%, 
        Americas 23%, Asia-Pacific 20% and Middle East/Africa 10%.
      
      
        The company has a global workforce of more than 60,000.
      
    
    
      Websites
    
    
      www.alstom.com, www.power.alstom.com 
      , www.service.power.alstom.com