French infrastructure giant Alstom is now the sole owner of train control company Signalling Solutions after buying Balfour Beatty’s half of the joint venture.
Alstom signed a deal to acquire Balfour’s 50% stake in the Hertfordshire-headquartered company for an undisclosed fee.
Signalling Solutions, established in 2007 by Alstom and Balfour Beatty, employs 540 people.
Alstom UK president Terence Watson said: “Alstom will use this fantastic opportunity to strengthen its activities in UK – which include rolling stock, infrastructure, electrification and signalling – and contribute to build a better railway.
“The company is looking forward to further collaborating with Network Rail, Crossrail, High Speed 2 and the British supply chain in delivering the state-of-the-art signalling technologies that will deliver the railway’s digital future.”
A Balfour Beatty spokesperson said: “The sale of our stake in the Signalling Solutions joint venture is further evidence of the progress we are making as we deliver our Build to Last programme, both in simplifying the group and maintaining a strong balance sheet through self-help.
“Exiting Signalling Solutions will allow our rail business to focus fully on its core expert strengths.”
Signalling Solution was in January 2012 awarded a major role in Network Rail’s £1.5bn signalling framework.
Network Rail infrastructure projects director Francis Paonessa said in a report into train delays last December that Signalling Solutions took almost 10 hours to complete a phase of work expected to last for two hours.
Signalling Solutions welcomed that report, apologised to those affected by the delay, and pledged to work with Network Rail to avoid similar issues in the future.