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Alstom SA ( (FR:ALO) ) has issued an update.
Alstom SA and KNDS Deutschland GmbH & Co. KG have reached a significant agreement to transfer the Görlitz industrial site in Germany to KNDS. This transition, supported by notable political figures, secures the future for the majority of the site’s workforce, with plans to reassign around 580 of 700 employees either to KNDS or other Alstom locations. KNDS will utilize the site to produce assemblies for military vehicles, marking a strategic expansion in its production capabilities. The gradual transition, expected to complete by 2027, underscores the site’s importance due to its skilled workforce and positions KNDS favorably in the defense manufacturing sector.
More about Alstom SA
Alstom SA is a prominent player in the transportation industry, specializing in the production of trains and trams. The company is known for its innovative solutions in rail transport and has a significant presence in the global market.
YTD Price Performance: -12.70%
Average Trading Volume: 248,309
Technical Sentiment Consensus Rating: Hold
Current Market Cap: €8.8B
For detailed information about ALO stock, go to TipRanks’ Stock Analysis page.
