Alstom looks to double US sales

Alstom aims to double its sales in the US over five years mainly through acquisitions. The group wants to expand its US employees from 3000 to between 10 000 and 15 000 by 2003.

The company, which went public in June, announced its first half results. It reported that orders for the group were up 14 per cent (pro forma); operating income was up 8 per cent and net income up 15 per cent. More specifically, orders for the energy division increased from Ecu1564m to Ecu1591m; while for transmission and distribution orders received were up from Ecu1012m to Ecu1107m. The results were at the lower end of expectations and shares in the company fell sharply as a result.