Alstom has completed the acquisition of Qingdao Sizhou, a firm with a strong focus on bottom ash handling systems and the related service business, a critical element of the coal-fired power generation process.
Commenting on the acquisition, Walter Graenicher, president of Alstom's Power Service Sector, said, "Sizhou's leading market position and developed customer base offer us a unique opportunity to build a presence in the rapidly growing Chinese power service market".
Founded in 1998, Sizhou today holds a leading position in the Chinese market for its product lines. The company has long-term relationships with the top Chinese utilities and over 500 power plants use Sizhou's equipment. With sales of more than EUR50 million in 2006, Sizhou employs over 1,100 employees, including 170 engineers and 60 sales experts. It is located on a recently built 180,000 sqm state-of-the-art facility in Jiaozhou City, near Qingdao.
Sizhou's engineering, service and manufacturing facilities, together with its sales network, will allow Alstom to quickly expand its presence in the Chinese boiler, environmental products and services market. The new company, Alstom Sizhou, will also provide a low-cost manufacturing base for Alstom's global supply chain.
The acquisition represents a major step forward in Alstom's strategy to become a full local service provider, supporting the market through a sales network, supply chain and field service resources, all of which are located close to the customers.
