General Electric sweetens bid for Alstom with jobs promise

GENERAL Electric (GE) is offering an improved deal for French engineering firm Alstom, according to comments from the chief executive and a softer stance from the country’s government.

CEO Jeff Immelt reportedly pledged directly to President Francois Hollande that he would create an extra 1,000 jobs for the firm if GE, rather than Germany’s Siemens, sees its offer accepted. French economy minister Arnaud Montebourg has previously been reticent to consider GE as a buyer.

Speaking to the economics committee of the lower house of France’s parliament yesterday, Immelt said: “GE has committed to grow employment levels in france with a focus on high value jobs like manufacturing and engineering... I believe there’s more we can do to develop small and medium enterprises that support the power industry.”

Related articles