IMF report on UK economy welcomed by Alstom

The International Monetary Funds (IMF) suggestion that there should be additional spending on major infrastructure to stimulate growth has been welcomed by international engineering firm Alstom.

The company, which employs more than 6,000 people in its Grid, Power and Transport divisions at 30 sites across the UK, pointed out that such an investment would help improve certainty for companies looking at investing in the country.

Terence Watson, President of Alstom UK, said: The IMFs call for investment in infrastructure, particularly in transport and energy, resonates with us, even as we continue to win work and to create new jobs.

Looking at our market places in energy and transport, its clear that investments are being put on hold as we wait for signs of recovery. We believe the IMFs proposed investment levels would help give our customers the confidence to invest in major new infrastructure projects.

Alstom was also supportive of the reports suggestions of offering retraining opportunities, with the company already increasing apprentice and graduate numbers, and re-skilling new employees from non-engineering backgrounds (such as firefighters and the armed forces). The company has five industrial and engineering training schools in the UK and is planning to open a sixth.

In the UK, Alstom has a turnover of around £1 billion, is currently building a gas-fired power station in Trafford, maintains trains for Virgin Rail and on the Northern Line, and has won a number of major export contracts for its Stafford-based power transformer factory. The company has also won three contracts with its partners for Crossrail, including one of the largest ones the project will award, for the fit out of tunnels.

Press contact:
Jonathan Smith, Head of Media Relations, Alstom UK  
Tel 01788 545602 or 07801 775650
jonathan.smith@alstom.com