Alstom: share price rises following contract in Germany
(CercleFinance.com) - Alstom shares rose on the Paris Bourse on Wednesday, following the French group's announcement of the signature of a E2.
8bn contract in Germany.
At around 11am, the rail equipment manufacturer's shares were up more than 2%, posting one of the best performances on the SBF 120 index (+0.3%), compared with a 0.3% gain for the STOXX Europe 600 Industrial Goods & Services, the European industrial goods and services index.
In a press release, Alstom states that the framework agreement signed with Hamburger Hochbahn, the Hamburg subway operator, covers the supply of new subway trains and signaling systems.
The contract covers the delivery of 374 new metro trains, including 254 semi-automated and 120 fully automated metro trains, all with four carraiges.
Alstom will also equip the new 25 km long, fully automated U5 metro line, currently under construction.
Once all 23 stations are completed, the U5 line will be able to operate at 90-second intervals, carrying around 270,000 passengers every day, says Alstom.
Production of the new-generation metros will take place at Alstom's Salzgitter site in Germany, and is scheduled to start in 2026, with first deliveries planned for early 2028.
The first section of the new U5 line is scheduled to enter service in 2029.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
8bn contract in Germany.
At around 11am, the rail equipment manufacturer's shares were up more than 2%, posting one of the best performances on the SBF 120 index (+0.3%), compared with a 0.3% gain for the STOXX Europe 600 Industrial Goods & Services, the European industrial goods and services index.
In a press release, Alstom states that the framework agreement signed with Hamburger Hochbahn, the Hamburg subway operator, covers the supply of new subway trains and signaling systems.
The contract covers the delivery of 374 new metro trains, including 254 semi-automated and 120 fully automated metro trains, all with four carraiges.
Alstom will also equip the new 25 km long, fully automated U5 metro line, currently under construction.
Once all 23 stations are completed, the U5 line will be able to operate at 90-second intervals, carrying around 270,000 passengers every day, says Alstom.
Production of the new-generation metros will take place at Alstom's Salzgitter site in Germany, and is scheduled to start in 2026, with first deliveries planned for early 2028.
The first section of the new U5 line is scheduled to enter service in 2029.
Copyright (c) 2024 CercleFinance.com. All rights reserved.