French rail engineer Alstom has acquired a 51% stake in Commuter Transport & Locomotive Engineering (CTLE), a South African company that specialises in the modernisation of rolling stock.
Alstom intends to expand CTLE’s work to include infrastructure and signaling, and "a broader range of rail products and solutions to address the region’s transport needs".
Based in the region of Ekurhuleni near Johannesburg, CTLE employs 450 staff, has a turnover of $16m and is fully compliant with Black Economic Empowerment principles.
The partnership should support growth, create jobs and enable skill development at CTLE. It will also allow the company to obtain stronger financing capabilities.
Alstom recently signed $200m metro contract in Cairo.
Image via Alstom