Alstom - History

History

Year Points of note
1928
  • The beginning of Alsthom was from the merger of Thomson-Houston and Société Alsacienne de Constructions Mécaniques (SACM), with its first factory in Belfort.
1932
  • Alsthom acquires Constructions Electriques de France, Tarbes, a manufacturer of electric locomotives as well as electrical and hydraulic equipment. Transport thus becomes a part of Alsthom
1969
  • Compagnie Générale d'Electricité (CGE) becomes majority shareholder of Alsthom
1976
  • The Group merges with Chantiers de l'Atlantique to become Alsthom Atlantique, bringing Marine into Alsthom's portfolio.
1977
  • Alsthom constructs the first 1300MW generator set for the Paluel power station which set a world record with an output of 1500 MW.
1978
  • The first TGV is delivered to SNCF. The TGV went on to break world rail speed records in 1981 (380 km/h) and 1990 (515.3 km/h), and achieved the world endurance record for high speed train lines in 2001, travelling from Calais to Marseille (1067.2 km) in 3 hours and 29 mins.
1986
  • The Alsthom Belfort site receives an order from EDF for the largest gas turbine in the world (212MW)
1988/9
  • Break up of Belgian electrical engineering company ACEC SA: Holding company GCEE Alsthom acquires energy division ACEC Energie SA (hydroturbines, electrical equipment for nuclear industry), and its automation division ACEC Automatisme SA. Alsthom acquires 100% of the rail transport equipment division of ACEC as ACEC Transport.
1989
  • GEC Alsthom is formed from the merger of the power and transport activities of Compagnie Générale d'Electricité (CGE) and the UK General Electric Company plc (GEC). France's market was no longer sufficient, so the merger was to enable Alsthom to export into Europe.
1994
  • Rail vehicle manufacuter Linke-Hofmann-Busch (LHB), formerly part of Salzgitter AG group, is acquired by GEC Alsthom.
1995
  • Outstanding shares in MAN Energie (steam turbines) are acquired
1998
  • GEC Alsthom acquired Cegelec (electrical contracting) as Alstom Power Conversion
  • June: the Group is introduced on to the Paris Stock Exchange and changes its name from GEC Alsthom to Alstom. GEC and Alcatel sell off part of their stakes in the capital (23.6% each).
1998
  • Alstom acquires Sasib Railways (Italy), which also adds the former General Railway Signal (USA)
1999
  • Alstom acquires the Canadian Télécité Inc., a worldwide Centre of Excellence in passenger information and security solutions.
  • Alstom and ABB merge their energy businesses in a 50-50 joint company known as ABB Alstom Power.
  • Alstom sells its heavy duty gas turbine business to General Electric.
2000
  • Alstom acquires ABB's share in ABB Alstom Power.
  • Alstom acquires a 51% stake in Fiat Ferroviaria, the Italian rail manufacturer and world leader in tilting technology.
2003
  • Alstom supplies the highest capacity automated metro in the world to Singapore
  • In 2003 Alstom was undergoing a financial crisis due to poor sales and debt liabilities, with the potential to force the liquidation of the company; in part due to $4 billion costs due to a design flaw in the turbines of a 2000 acquisition from ABB Group, as well as collapse of customer Renaissance Cruises. Alstom's share price had dropped 90% over two years, and the company had over $5 billion of debt. Subsequently Alstom would sell several of its subsidiaries to raise funds.
2004
  • January: Alstom sells its T&D activities to Areva.
  • The French State takes up a 21% stake in Alstom's capital to support the recovery of the company.
  • Alstom delivers the Queen Mary 2, the world's largest ocean liner, to Cunard.
  • Alstom sells Alstom Power Rentals to APR LLC later becoming APR Energy LLC
  • Alstom sells the diesel locomotive manufacturer Meinfesa (Valencia, Spain) to Vossloh AG.
  • Alstom receives EU approved, French government bailout worth €2.5 billion.
2005/2006
  • GT 24/26 turbines achieve 1.5 million operating hours and major sales to countries such as Italy, Germany, Spain and Thailand, demonstrating the Group's return to the gas turbine market with a technologically advanced product.
2006
  • Alstom sells its Marine Division to the Norwegian group Aker Yards. Alstom commits itself to keeping 25% of the shares until 2010.
  • June 2006, Bouygues group acquires French government 21% holding, for €2 billion, (increased to 30% by March 2011) Later in the year, Bouygues increases its shareholding to 24%.
  • Alstom launches major clean coal technology initiative with the EU.
  • Alstom sells Alstom Power Conversion which became Converteam Group in a leveraged buy-out (LBO) deal funded by Barclays Private Equity France SAS
2007
  • Following a new Graphic Chart, the Group name is now written "Alstom", with the exception of the legal entities which are written with Alstom in capitals, e.g., Alstom S.A.
  • April: on a test run in France, TGV Est set the world speed record for rail vehicles of 574.8 km/h
  • 25 June: Acquired the Spanish wind turbine manufacturer Ecotècnia, and was named Alstom Ecotècnia until April 2010, when the Ecotécnia name was dropped. The new entity legal name is Alstom Wind.
2009
  • Alstom acquired 25%+1 share of Russian Transmashholding.
2010
  • Alstom announces opening of a wind turbine assembly facility in Amarillo, Texas
  • Alstom re-acquires the Electric power transmission Division of Areva SA. (previously sold to Areva in 2004.) A new division is created called Alstom Grid.
  • Alstom opens in Chattanooga, USA, a state-of-the-art turbine manufacturing facility to address the North American power generation market
  • Alstom inaugurates new hydropower manufacturing facility in China
2011
  • Alstom and the Iraqi government sign a memorandum of understanding regarding the construction of a new high-speed rail line between Baghdad and Basra.
2012
  • Alstom begins construction of factories at:
    • Sorel-Tracy, Quebec, Canada (passenger rail vehicles), in part to construct vehicles for a $1.2 billion (Canadian) order from Société de transport de Montréal awarded to Alstom/Bombardier.
    • Cherbourg (Turbine blades in association with LM Power, wind turbine towers), and at Saint-Nazaire (Nacelles and generators) to construct wind turbines, after a consortium of Alstom (Alstom Wind), EDF, and Dong Energy was awarded three French offshore wind farm contracts.
    • Ufa, Russia, joint venture with RusHydro to manufacture equipment for small and medium power hydropower plants (up to ~100MW).

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