Released May 09, 2014 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--General Electric Company (NYSE:GE) (Fairfield, Connecticut) recently bid $16.9 billion to acquire Alstom S.A.'s (Paris, France) thermal, renewables and grid businesses. The Alstom board of directors is reviewing the bid through June 2 and could announce a decision in early 2015.
Industrial Info is tracking 24 power projects involving Alstom in North America, valued at more than $13.5 billion in total investment value, including plant modernizations, windfarms, geothermal, hydroelectric and emission controls equipment installation.
Alstom, one of the largest engineering and construction companies in the world, also says it is open to rival offers from interested companies. French President Francois Hollande and Economy Minister Arnaud Montebourg oppose the GE deal. The French government regularly intervenes in large energy-related matters, such as acquisitions, sitings and energy security concerns.
Alstom's energy division manufactures equipment for power plants, such as combustion turbines; steam turbines and industrial boilers; renewable-energy equipment, including wind turbines; hydroelectric turbines and geothermal equipment; and emission controls equipment, such as selective catalytic reduction (SCR), flue gas desulfurization (FGD) and particulate controls. Altogether, these products account for more than 70% of the company's revenue.
Siemens AG (NYSE:SI) (Munich, Germany) is in the process or restructuring--and also may be interested acquiring--the Alstom energy division. But Siemens will not enter into a bidding war with General Electric, according to the latest reports.
For related information, see May 8, 2014, article - GE Seeks to Expand Footprint in India with $390 Million Offer for Two Alstom Companies, and May 2, 2014, article - Siemens, Rolls Royce, Alstom, GE and Daimler Play High-Stakes Power Acquisition Game.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
Industrial Info is tracking 24 power projects involving Alstom in North America, valued at more than $13.5 billion in total investment value, including plant modernizations, windfarms, geothermal, hydroelectric and emission controls equipment installation.
Alstom, one of the largest engineering and construction companies in the world, also says it is open to rival offers from interested companies. French President Francois Hollande and Economy Minister Arnaud Montebourg oppose the GE deal. The French government regularly intervenes in large energy-related matters, such as acquisitions, sitings and energy security concerns.
Alstom's energy division manufactures equipment for power plants, such as combustion turbines; steam turbines and industrial boilers; renewable-energy equipment, including wind turbines; hydroelectric turbines and geothermal equipment; and emission controls equipment, such as selective catalytic reduction (SCR), flue gas desulfurization (FGD) and particulate controls. Altogether, these products account for more than 70% of the company's revenue.
Siemens AG (NYSE:SI) (Munich, Germany) is in the process or restructuring--and also may be interested acquiring--the Alstom energy division. But Siemens will not enter into a bidding war with General Electric, according to the latest reports.
For related information, see May 8, 2014, article - GE Seeks to Expand Footprint in India with $390 Million Offer for Two Alstom Companies, and May 2, 2014, article - Siemens, Rolls Royce, Alstom, GE and Daimler Play High-Stakes Power Acquisition Game.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
