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...Without new orders, redundancies are likely later this year as the factory begins to wind down, a person familiar with the matter said....
...Shares in offshore wind giant Ørsted — the long-term treasure of green-minded investors — dropped by a quarter after it abandoned two US projects....
...GE Renewable Energy, previously Alstom, withdrew from two out of three deals to supply upcoming French offshore plants in 2019, citing excessive delays which left one of its blade factories running under...
...Businesses in the energy spin-off include power assets such as gas turbines and steam power, and its renewables portfolio, which includes the manufacturing of onshore and offshore wind turbines, wind blades...
...Maybe not, says UBS: Overall, both Bombardier Transportation and Alstom generate about 60-65% of their revenues from Europe....
...GE wrote down $740m in goodwill related to a hydro power business acquired when it took over Alstom’s energy business in 2015....
...EU officials also examined CRRC’s prospects of breaking into other markets and concluded that the political and regulatory winds were now blowing against Chinese corporate insurgents in many places where...
...The commission’s tough stance on Siemens-Alstom suggests competition officials are not bending in the political winds....
...Healthineers and its now blocked attempt to form a rail and rail-signalling joint venture with France’s Alstom....
...As the costs of wind and solar power have plunged, they have become competitive against the gas-fired and coal-fired power plants that are GE and Alstom’s forte....
...With two unsecured creditors filing at Cayman courts to wind up the firm, Abraaj had no choice except provisional liquidation....
...The wind turbine business, born when GE brought Enron’s wind operations out of bankruptcy in 2002, is now one of the world’s largest....
...I wrote how the Alstom deal was emblematic of the way the company was caught out by the shift away from coal and gas and towards solar and wind power....
...The new company will be much more focused, on aero-engines and other aircraft parts, equipment for the power industry and renewable energy, particularly wind....
...However, Alstom also had technology for offshore wind, which has formed the basis for GE’s plan to compete in the offshore market....
...Brussels doesn’t think so, as it refuses to bend to political winds. But critics of such a position argue that European authorities are at risk of becoming the “idiots of the global village”....
...Siemens has also turned its wind energy business into a listed company....
...It sounds like the €3.75 a share paid to investors in Gamesa, a Spanish wind turbine group with whom Siemens did a similarly structured deal last year. But Siemens paid that sum itself....
...The deal with Alstom follows the same playbook: Siemens owns a majority but it will be run from France....
...General Electric’s offshore wind joint venture with Alstom is developing a huge new turbine, the world’s tallest, which will be built at plants in St Nazaire and Cherbourg on France’s Atlantic coast....
...CAF and Talgo are rolling stock groups while Gamesa makes wind turbines for companies around the world....
...Trials of a hydrogen-powered train developed by Alstom of France started in Germany last year. Hydrogen also has wider potential uses as a source of heating in homes and industries....
...When it announced the merger of its train-making unit with Alstom using a similar structure, it named the French company’s chief executive as head of the combined group....
...It is currently in the process of joining its rail division with France’s Alstom, which will then list in Paris....
...Much of the technology came with GE’s acquisition of the energy business of Alstom, and initially at least the massive turbine will be built in France....
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