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Siemens and Alstom are in talks to create a European rail transportation powerhouse to better compete with Chinese rivals. Alstom, a French train-maker, and Siemens' mobility unit are discussing a combination that would result in an annual sales figure of approximately $18 billion. The merger aims to increase competitiveness in the rail transportation industry, following the merger of Chinese train makers CSR Corp. and China CNR in 2015, which created a formidable competitor.
Thursday, 21 September, 2017