Tufton Assets Share Discussion Threads

[ariane] 27/11/2003 18:39

1.71 euros

[ariane] 26/11/2003 19:22

2.63 euros

[ariane] 25/11/2003 20:34

2.79 euros

[maywillow] 25/11/2003 15:16

PARIS (AFX) - Alstom said it has won three orders worth 54 mln eur from the
railway company Merval SA for the modernisation of passenger trains.
In a statement, Alstom said it has won a contract from Merval in November
2002 for the supply of 27 trains and their maintenance over a 10-year period.
Under the terms of the current contract, Alstom said it has exercised an
option worth 30 mln eur for an additional 18 years of maintenance for the
trains.
Merval has also placed an order worth 24 mln eur for the power supply of the
railway line, Alstom said.
[e-mail]
lwl/kl

[maywillow] 23/11/2003 22:33

LONDON (AFX) - UK Prime Minister Tony Blair is to ask Jean-Pierre Raffarin,
his French counterpart, to abandon proposals for a French nuclear-powered
aircraft carrier and order a conventionally-fuelled alternative made with
British co-operation, according to The Business.
The newspaper did not name its source, but said such a deal would benefit
BAE Systems PLC and France's Thales, which has 12,000 workers in Britain.
At the Anglo-French summit on Monday, Blair will suggest the proposed sister
ship to the Charles de Gaulle is built along the same lines as the two aircraft
carriers the UK ordered last July through a joint contract between BAE and
Thales.
If the French aircraft carrier follows the design of the Royal Navy vessels
then the UK would offer support services and co-ordinated construction on the
condition that UK workers receive some of the French contract, the newspaper
said.
ml/jkm/

[maywillow] 23/11/2003 22:33

LONDON (AFX) - UK Prime Minister Tony Blair is to ask Jean-Pierre Raffarin,
his French counterpart, to abandon proposals for a French nuclear-powered
aircraft carrier and order a conventionally-fuelled alternative made with
British co-operation, according to The Business.
The newspaper did not name its source, but said such a deal would benefit
BAE Systems PLC and France's Thales, which has 12,000 workers in Britain.
At the Anglo-French summit on Monday, Blair will suggest the proposed sister
ship to the Charles de Gaulle is built along the same lines as the two aircraft
carriers the UK ordered last July through a joint contract between BAE and
Thales.
If the French aircraft carrier follows the design of the Royal Navy vessels
then the UK would offer support services and co-ordinated construction on the
condition that UK workers receive some of the French contract, the newspaper
said.
ml/jkm/

[grupo guitarlumber] 22/11/2003 09:52

LONDON, November 21 (New Ratings) – Analysts at JP Morgan reiterate their "underweight" rating on Alstom (ALSO.PA).

[maywillow] 20/11/2003 12:43

PARIS (AFX) - Alstom chairman and chief executive officer Patrick Kron said
he seeks unconditional European Union approval for the company's 3.2 bln eur
rescue plan.
Kron was speaking to journalists at the Matignon, the prime minister's
office.
Alstom shareholders on Tuesday overwhelmingly approved the company's
refinancing plan.
[e-mail]
vl/lwl/jfr

[maywillow] 18/11/2003 17:23

RNS Number:2185S
Alstom
18 November 2003

18 November 2003


ALSTOM'S Euro3.2 BILLION REFINANCING PACKAGE APPROVED AT GENERAL SHAREHOLDERS'
MEETING


Shareholders at ALSTOM's Ordinary and Extraordinary Meeting held today in Paris
voted in favour of resolutions which will allow the Group to implement totally
the refinancing agreement announced on 22 September 2003.

The approval of the resolutions will allow ALSTOM to proceed with the planned
Euro300 million capital increase and Euro900 million issue of Bonds Mandatorily
Reimbursable with Shares (ORA) designed to strengthen the Group's equity and to
rapidly conclude all other aspects of the Euro3.2 billion refinancing package
announced on 22 September 2003.

Summary voting results:

- the third and fourth resolutions relative to the capital increase at
an issue price of Euro1.25 per share, were approved by 98.2% and 98% respectively.

- the fifth resolution relative to the issue of Bonds Mandatorily
Reimbursable with Shares (ORA) at an issue price of Euro1.40 was approved by 99.5%,

- the second and sixth resolutions relative to the issue to the French
State of Euro200 million of subordinated bonds and Euro300 million* subordinated
bonds were also approved by 94.6% and 99% respectively.

The shareholders also approved the first resolution relative to the four year
appointment of a new director, James William Leng, Chairman of Corus, in
replacement of Sir William Purves who resigned after the Annual General Meeting
on 2 July 2003.


Patrick Kron, Chairman & CEO, commented: "I thank our shareholders for the
confidence they have shown today by voting in favour of the refinancing
agreement. The measures it comprises, in addition to the restructuring and
operational performance programmes already well underway, give the Group a sound
base from which to strengthen customer confidence and deliver a marked
turn-around in financial performance.

"On behalf of the Board of Directors, I would also like to welcome James Leng
to the Board; he brings valuable experience and expertise and we all look
forward to working with him."


* reimbursable into shares upon the express approval of the European Commission



Press relations: S. Gagneraud / G. Tourvieille
(Tel. [phone])
[e-mail]

Investor relations: E. Chatelain
(Tel. [phone])
[e-mail]

M Communications: L. Tingstrom
Tel. + 44 789 906 6995



Disclaimer :

This announcement is not an offer of ALSTOM securities for sale or subscription
in the United States or any other jurisdiction. Securities may not be sold or
subscribed in the United States absent registration or an exemption from
registration. Any public offering of securities to be made in the United States
or elsewhere will be made only by means of a prospectus that may be obtained
from ALSTOM and that will contain detailed information about ALSTOM and its
management, as well as financial statements. ALSTOM does not intend to register
all or part of the offering in the United States or make any public offering in
the United States.


This information is provided by RNS
The company news service from the London Stock Exchange
END

NRAFFMFWASDSESF

[maywillow] 13/11/2003 17:13

3.10 euros

[waldron] 13/11/2003 08:06

LONDON (AFX) - Alstom said it has won transport system orders in Germany and
Italy worth a total 84 mln eur for the group as partner in two consortia.
S-Bahn Hamburg, the city's rapid-transit railway, has awarded a consortium
consisting of Alstom and Bombardier Transportation an order for the supply of
nine new trains and the rebuilding of 33 existing trains, with the total value
of 90 mln eur shared equally by the partners.
In Italy, an Alstom-led consortium has won a 65 mln eur order from national
railway group, Ferrovie dello Stato, to supply systems and infrastructure for a
railway line between Milan and Bologna. Alstom's share of the contract is 39
mln.
The other members of the consortium are the Italian companies Sirti SpA,
Ceprini, Icefs and CLF, which will carry out other engineering and construction
work, such as civil works and trackwork, Alstom.
[e-mail]
lam

[waldron] 13/11/2003 07:55

RNS Number:0163S
Alstom
13 November 2003

13 November 2003



ALSTOM FIRST HALF RESULTS 2004

1 April 2003 - 30 September 2003

First Half Results impacted by uncertainties over ALSTOM's situation

* Orders received: Euro7.4bn, down 23% on a comparable basis
* Sales: Euro8.9bn, down 9% on a comparable basis
* Operating margin: 1.5%
* Net income: Euro(624)m
* Free cash flow: Euro(674)m
* Economic debt reduced to Euro4.5bn

Progress on action plan


* Euro2.5 bn proceeds from disposals secured

* Financing package announced 22 September to strengthen the Group's
financial structure, with positive feedback from customers

* Significant progress made on GT24/GT26 gas turbines issue

* Operational performance: restructuring accelerated with cost-reduction
programmes underway



* * *

Commenting on the results Patrick Kron, Chairman & Chief Executive Officer,
said:

"ALSTOM's results for the first half of fiscal year 2004, though unsatisfactory,
are generally in line with previous guidance.

Our low level of order intake mainly reflects weak demand for new power
equipment, the impact of customer concerns surrounding ALSTOM's past financial
position and difficulties experienced during the period in obtaining contract
bonds. Our income was hit by additional charges on some US contracts and a
significant increase in financial and restructuring charges.

The financing package announced on 22 September 2003 is designed to strengthen
substantially the Group's financial structure and we are now seeing positive
reactions from customers, as illustrated by Euro700 million in orders having been
secured in October by our Transport Sector. Despite difficult circumstances, we
managed during the first half to win good orders such as trams and metros in
Europe, gas turbines in Algeria, a combined cycle plant in Bahrain, Power
service in the US and Brazil and a major utility boiler in China.

We also made significant progress on the action plan announced last March
designed to improve Group profitability and cash generation, to close out past
operational issues and reduce our level of debt. To date we have secured Euro2.5 bn
proceeds from disposals, including our small and medium-sized industrial
turbines and our transmission & distribution activities; we continue to make
encouraging headway on the GT24/GT26 issue, while major restructuring and
cost-reduction programmes are underway worldwide to drastically cut our cost
base.

My priority, and that of ALSTOM's management team, remains the continued full
implementation of this action plan. The September financing agreement will be
submitted for approval at a Shareholders' Meeting on 18 November and will be
fully implemented as soon as possible thereafter. It will substantially increase
our equity base through a capital increase and issue of bonds redeemable in
shares, while providing the Group with adequate medium to long-term financing
and on-going liquidity and contract bonding coverage. I believe the financing
agreement is also a strong signal to the market that ALSTOM is back in normal
business, not only with a commitment to meeting its operational improvement
objectives, but above all its customers' needs and expectations."



- ends -

[waldron] 13/11/2003 07:48

RNS Number:0177S
Alstom
13 November 2003

ALSTOM AWARDED 250 MILLION EURO
CONTRACT IN SUDAN

ALSTOM has just been awarded a contract by the Ministry of Irrigation and Water
Resources of the Republic of the Sudan to supply the electro-mechanical
equipment for the Merowe Dam Project, located on the Nile River. The value of
the contract is in excess of 250 million euro.

ALSTOM's scope of supply includes 10 hydro turbines and generators, each with an
output of 125 MW, the balance of plant, control system and engineering. The
scope also includes erection and commissioning. One of the key factors in ALSTOM
winning this contract has been its unrivalled experience in the field of hydro
power. This new contract confirms ALSTOM's No. 1 position in this world-wide
market.

This contract marks a milestone in the economic progress of Sudan. On
completion of this project, the power generation capacity will be more than
doubled. The project, due to commence in December 2003 will be executed over a
period of five years and will involve several engineering and manufacturing
units in ALSTOM including Brazil, Switzerland, France and Germany.

Philippe Soulie, President of ALSTOM's Power Environment Sector said "winning
this contract represents a major success for us. At this particular point in
ALSTOM's recovery plan, we regard this award as a strong and encouraging
demonstration of confidence on the part of our Customer and we are proud to be
associated with this prestigious project".

Press relations: G.Tourvieille / S.Gagneraud
(Tel. [phone])
[e-mail]

Investor Relations: E.Chatelain
(Tel. [phone])
[e-mail]




This information is provided by RNS
The company news service from the London Stock Exchange
END
CNTMGMMMNFKGFZG

[maywillow] 12/11/2003 11:47

2.83 euros at days end.

[maywillow] 11/11/2003 12:16

BRUSSELS (AFX) - The European Commission said it has authorised Spain to
grant aid to its shipbuilding industry to offset the effects of unfair
competition from South Korea.
Under the scheme approved by the commission, Spanish shipyards are eligible
for aid where there has been competition for the contract from a South Korean
yard offering a lower price.
vm/jfr