Alstom's UK factory saved from closure by new £370m contract [Yahoo! Finance]
ALSTOM UNSP/ADR (ALSMY)
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Source: Yahoo! Finance
The factory, threatened by closure due to a lack of incoming orders, has been a point of contention after Alstom first warned about its struggles, leading organisations such as the Unite union to call on the government to take action. Now, the UK Government confirmed that it had made funding for the new trains available to Transport for London (TfL) after reviewing its business case and agreeing that new rolling stock was needed to meet expected growth on the new line. Nick Crossfield, Alstom's managing director for the UK and Ireland, described the UK as one of the company's “most important global markets”, he said: “We are delighted to now have a confirmed workload for Derby Litchurch Lane and our supply chain across the UK.” In addition to construction of the 10 nine-car Aventra Class 345 trains, adding to the 70 already in use on the Elizabeth line, the contract will also see Alstom supply associated maintenance for the vehicles until 2046. News of the deal was welcomed a
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