German industry giant Siemens and French rival Alstom agreed to merge their rail divisions. The move is intended to ward off growing competition by China's rail giant CRRC.
German industrial giant Siemens has signed a deal to merge its railway operations with French competitor Alstom. The firms aim to establish a viable challenger to take on China's state-owned CRRC.
Germany's Siemens and France's Alstom may be on the verge of merging their rail businesses, media reports suggest. It would come at a time when they are facing growing competition from China's state-backed rival CRRC.
French President Emmanuel Macron lays out his ambitious vision for Europe, and shortly afterwards industrial giants Siemens and Alstom announce their merger plan. It's no coincidence, says DW's Andreas Becker.
Under its 'Vision 2020 plan', Siemens has been undergoing significant changes. Is the decision to publicly list its healthcare unit in Frankfurt — the biggest German IPO in 21 years — part of the process?
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