Alstom and Pirelli sign Memorandum of Understanding

Alstom Holdings and Pirelli Cavi e Sistemi Energia S.p.A. have signed a Memorandum of Understanding for the implementation of a Frame Agreement for the purchase of Electrical Cables.
The purpose of such Frame Agreement is for Alstom to achieve a rationalization of the suppliers' base. Pirelli has been selected through a rationalization process as a Company able to meet Alstom's requirements in terms of Products and competitiveness (i.e. Preferred Supplier). Pirelli expect this Agreement to further expand the current cooperation with Alstom, already worth in Europe more than 7 Million Euros

ALSTOM is the global specialist in energy and transport infrastructure. The Company serves the energy market through its activities in the fields of power generation and power transmission and distribution, and the transport market through its activities in rail and marine. In fiscal year 2001/02, ALSTOM had annual sales in excess of 23 billion and employed 112,000 people in over 70 countries. ALSTOM is listed on the Paris, London and New York stock exchanges

PIRELLI is a global manufacturer of Tyres, Telecom and Energy Cables and Systems. With 36,000 employees, 79 plants and total sales of Euros 6.311 billion in 2002, Pirelli ranks among the world leaders. The company is increasingly focusing its R& D and manufacturing resources and competencies on leading-edge technologies, as witnessed by the recent establishment of the advanced Pirelli Labs.