Alstom Acquires 51% Share of CTLE
Image courtesy of Alstom
Alstom completed its acquisition of a 51% share in CTLE (Commuter Transport and Locomotive Engineering), a South African rail company specialising in modernising trains. They acquired the shares from CTE (Commuter Transport Engineering) and IDC (Industrial Development Corporation), who are both still shareholders.
The company will be rebranded as Alstom Ubunye, with Yvan Eriau taking over as CEO in addition to his role as Managing Director of Alstom South Africa.
The acquisition has been approved by South African antitrust authorities. Alstom Ubunye will be restructured and its portfolio extended. Alstom’s activities in South Africa will in turn be strengthened. The integration of the company, including 400 staff and an 80,000m2 manufacturing plant, will enhance local competencies by taking advantage of Alstom’s experience and technologies. Alstom Ubunye’s portfolio will include infrastructure, signalling, trains and components.
Yvan Eriau said:
“To be closer to its customers, Alstom has decided to further invest in South Africa. We know we can rely on a highly skilled workforce here in CTLE to seize the new opportunities to come. We are very pleased to conclude this new deal with our South African partners to create a stronger industrial and commercial base able to offer a full range of rail products & solutions in Southern Africa.”