Mitsubishi Heavy : , France could take equal stakes in Alstom - unionist
June 13, 2014 at 01:20 pm EDT
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PARIS (Reuters) - Mitsubishi Heavy Industries (>> Mitsubishi Heavy Industries, Ltd.) and the French government would take equal stakes in Alstom (>> ALSTOM) as part of a rival offer to that of General Electric (>> General Electric Company), a trade union representative said following a meeting with economy minister Arnaud Montebourg.
PARIS (Reuters) - Mitsubishi Heavy Industries (>> Mitsubishi Heavy Industries, Ltd.) and the French government would take equal stakes in Alstom (>> ALSTOM) as part of a rival offer to that of General Electric (>> General Electric Company), a trade union representative said following a meeting with economy minister Arnaud Montebourg.
"The minister described Mitsubishi's offer...Clearly, this is an alliance scheme that counters GE's proposal," said Gabriel Artero, CFE-CGC representative of France's steelworkers federation.
"The state and Mitsubishi would take joint and equal stakes in Alstom," he said, adding this would imply buying back at least a part of the 29 percent stake currently held by Alstom's top shareholder Bouygues (>> BOUYGUES).
(Reporting by Matthieu Portard; Writing by Natalie Huet; Editing by Maya Nikolaeva)
Mitsubishi Heavy Industries, Ltd. is a diversified group organized around 4 business segments:
- manufacturing of systems and components for energy production units (42.6% of net sales): offshore wind turbines, pumps, turbochargers, reactors, compressors, aero-engines, gas turbines, nuclear power generators, etc.;
- shipbuilding and industrial construction (41.1%): construction of ships, land transport systems, machinery and industrial installations, environmental systems (industrial wastewater treatment systems, air pollution control units, marine pollution prevention systems, waste incinerators, etc.), handling equipment, machine tools, air conditioning and refrigeration systems, toll systems, etc.;
- construction of avionics, defence and aerospace systems (15.7%);
- other (0.3%).
Net sales are distributed geographically as follows: Japan (48.9%), Asia (17.4%), the United States (14.8%), Europe (9.4%), Middle East (2.9%), Central and South America (2.8%), Africa (1.3%) and other (2.5%).
MITSUBISHI HEAVY INDUSTRIES, LTD. 
