Union warns of Alstom's UK sell-off - 23/3/2005
Mark Milner
Wednesday March 23, 2005
The Guardian
The French engineering group Alstom plans to sell off its power conversion business in the UK, the trade union Amicus warned last night.
It said it believed a sale could be part of the disposal programme sought by the EU following the French government-backed support package for Alstom in 2003.
Amicus said that though the identity of the potential buyer had not been disclosed it was thought to be a financial institution and the sale could be completed in July.
"We condemn the company's secrecy and haste, which will create great uncertainty for employees, customers and suppliers," said Peter Skyte of Amicus.
In Paris an Alstom spokesman acknowledged that power conversion was not regarded as a core business for the company but said there was "no decision and no buyer".
www.guardian.co.uk/business/story/0,3604,1443687,00.html
Mark Milner
Wednesday March 23, 2005
The Guardian
The French engineering group Alstom plans to sell off its power conversion business in the UK, the trade union Amicus warned last night.
It said it believed a sale could be part of the disposal programme sought by the EU following the French government-backed support package for Alstom in 2003.
Amicus said that though the identity of the potential buyer had not been disclosed it was thought to be a financial institution and the sale could be completed in July.
"We condemn the company's secrecy and haste, which will create great uncertainty for employees, customers and suppliers," said Peter Skyte of Amicus.
In Paris an Alstom spokesman acknowledged that power conversion was not regarded as a core business for the company but said there was "no decision and no buyer".
www.guardian.co.uk/business/story/0,3604,1443687,00.html