Alstom has become the sole owner of its Signalling Solutions Limited (SSL) joint venture after Balfour Beatty confirmed the sale of its half of the business.
In a bid to restructure the company, Balfour Beatty has already sold off a number of assets that it has described as not being part of its core services.
The new company will retain the SSL name “for the foreseeable future”, said Alstom.
A Balfour Beatty spokesperson said: “The sale of our stake in the SSL joint venture is further evidence of the progress we are making as we deliver our Build to Last programme, both in simplifying the Group and maintaining a strong balance sheet through self-help.
“Exiting SSL will allow our rail business to focus fully on its core expert strengths.”
As well as holding a number of regional signalling contracts with Network Rail, SSL also has a framework agreement to develop European Train Control System (ETCS level 2).
Terence Watson, president of Alstom UK, added: “Alstom will use this fantastic opportunity to strengthen its activities in UK- which include rolling stock, infrastructure, electrification and signalling – and contribute to build a better railway.
“The company is looking forward to further collaborating with Network Rail, Crossrail, HS2 and the British supply chain in delivering the state-of-the-art signalling technologies that will deliver the railway’s digital future.”
Whilst appreciating that the 50% share in SSL by Balfour Beatty was merely a business partnership, as it was Alstom that had the total expertise in signalling systems, it is another sad exit of a British company from the high-tech electronic field of railway engineering. This follows the acquisition of Invensys Plc by the much larger Siemens. I only hope that Balfour Beatty can now concentrate on it’s core activities of electrification and civil engineering and perhaps re-enter the European market at some future date.