Alstom orders and sales down
Orders and sales for engineering company Alstom, which has its UK headquarters in the Midlands, were down for the third quarter of 2011/12 compared with the previous year.
During the third quarter, Alstom Transport booked €1.5bn of orders, including the Nottingham tram extension contract in which it is involved as part of the Tramlink Nottingham consortium.
Alstom's share of the contract is around €350m (£290m) for the provision of tram maintenance, new trams and infrastructure for the two lines. The project is set to be completed in 2014.
Stafford-based Alstom Grid, the newest sector of engineering company Alstom, achieved its best level of orders since its acquisition in 2010 at €1.2bn (£1bn).
The electrical grids specialist recorded sales of €981m (£816m) from 1 October to 31 December 2011.
On 28 December, Alstom Grid was awarded a contract worth more than of £200m by the Swedish, state-owned utility company Svenska Kraftnät.
Last year, Alstom announced it is planning to plough its investment from the government's Regional Growth Fund (RGF) into a £44m Centre of Engineering Competence, located in Stafford.
Speaking to Insider, Stephen Burgin, country president of Alstom UK, said the investment in the Alstom Grid venture would create 125 jobs over the next three years.
France-headquartered Alstom registered orders of €4.9bn in the third quarter, compared with €5.5bn 12 months earlier. Sales also dropped to €4.9bn from €5.2bn.
Alstom chairman and chief executive Patrick Kron: "Demand continues to be active in emerging markets for all sectors, while transport booked a large number of contracts in Europe during the period.
"With more than €1bn of announced awards to be booked before the fiscal year end, as well as the prospects on which we are working, we expect a strong fourth quarter of orders."
The group employs more than 1,500 people in the Midlands, with operations based in Rugby, Stafford, Ashby-de-la-Zouch, Derby, Birmingham and Wolverhampton.
The group signed a revolving credit facility with 18 banks worth €1.35bn (£1.13bn) during the third quarter. Alstom agreed the syndicated revolving credit facility with a five-year maturity to refinance an existing undrawn €1bn facility.
