Alstom Paying for Lost Years With Focus on Coal Rather Than Wind
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Alstom SA is seeking to reverse the worst stock return of any major French company this year with a push into renewable energy as the maker of trains and turbines seeks to narrow the gap with German rival Siemens AG.
The company, which narrowly escaped bankruptcy in 2004, aims to get “double digit” market share in offshore wind turbines that it’s developing, Philippe Cochet, head of its renewable-energy unit, said in an interview. It had 1 percent to 2 percent of the wind-turbine market last year, lagging behind the top 10 suppliers including Denmark’s Vestas Wind Systems and Siemens.