Local impact of international selloff not yet known
The future of Alstom Ltd, the electrical equipment maker operating since 1910, has become uncertain with the French promoter, Alstom SA, putting its worldwide transmission and distribution (T&D) business up for sale.
Alstom Ltd, the 67 per cent subsidiary of Alstom SA of France, earned 83 per cent of its revenues in 2001-02 from T&D operations. Resuls for 2002-03 were yet to be released.
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The balance 17 per cent was generated from the industrial products segment comprising rotating machines (motors and fans) and trading activities.
A top source at Alstom confirmed that the foreign principal was looking for a buyer for its T&D business worldwide.
He, however, could not comment on the possible effect of the proposed sale on the fate of Alstom in India on the plea that