Balfour Beatty to sell its share of joint venture signalling company
Alstom is to become sole owner of Signalling Solutions Ltd (SSL), currently a 50-50 joint venture with Balfour Beatty.
The French company has signed an agreement with BB to buy the remaining shares in the signalling provider, which was established in 2007 and employs 540 people in four locations. Alstom says the company will continue to trade as SSL for the foreseeable future.
Pascal Cléré, Senior Vice President of Alstom Transport signalling activity, said: ‘This acquisition is part of Alstom’s signalling growth strategy and enables the company to take full benefit from its worldwide resources and capabilities. SSL enriches Alstom’s portfolio, both from a geographical and product standpoints.’
Terence Watson, President of Alstom UK, added: ‘[Alstom] is looking forward to further collaborating with Network Rail, Crossrail, HS2 and the British supply chain in delivering the state-of-the-art signalling technologies that will deliver the railway’s digital future.’
A Balfour Beatty spokesperson said: ‘The sale of our stake in the SSL joint venture is further evidence of the progress we are making as we deliver our Build to Last programme, both in simplifying the Group and maintaining a strong balance sheet through self-help. Exiting SSL will allow our rail business to focus fully on its core expert strengths.’