MHI, Siemens evaluate Alstom proposal

Mitsubishi Heavy Industries (MHI) and Siemens AG are working together to evaluate a potential proposal for Alstom’s assets.

The companies hope that the potential proposal will strengthen Alstom, MHI and Siemens’ future position.

“MHI has been invited by Siemens to join forces and we firmly believe that we can substantially contribute to a partnership solution for Alstom which will create value for all parties involved, including the country of France,” said Shunishi Miyanaga, president and chief executive officer of Mitsubishi Heavy Industries.

The proposal submission is due to Alstom’s Board of Directors by June 16.

“I appreciate MHI’s commitment to join our efforts and I do look forward to working together with MHI to create a long-term oriented solution for Alstom, MHI and Siemens,” said Joe Kaeser, president and CEO of Siemens.

Subscribe to Power Engineering magazine