YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
In a move to counter China's state-owned CRRC Corp., German industrial group Siemens and French rival Alstom are merging their rail operations.
"This Franco-German merger of equals sends a strong signal in many ways. We put the European idea to work and together with our friends at Alstom, we are creating a new European champion in the rail industry for the long term," said Siemens CEO Joe Kaeser.
The combined rail venture will be known as Siemens Alstom, Fox Business reports.
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