Alstom CEO says most orders coming from the emerging markets

Alstom SA (ALO.FR) said Friday it's receiving most of its new orders from emerging markets such as China, India and Brazil as the developed economies slowed, a fact that has led the French maker of power equipment to spend bulk of its annual investment of EUR500m in the growth regions.

Patrick Kron, Alstom's chairman and chief executive, told a news conference, that the company earlier generated close to two-third of its activities in western Europe and North America.

"Post the financial crisis of 2008-09, when I look back what happened in the last 18 months to two years, we have seen a shift in demand which has been reflected by orders coming now from outside."

Kron was in Vadodara, in the western Indian state of Gujarat, to inaugurate the commissioning of two super heavy machines at Alstom's hydro power equipment manufacturing unit.

Alstom's orders in the nine months through December rose 20 per cent to EUR15.1bn, due largely to a more than doubling in contracts from Eastern Europe, including Russia, and a 26 per cent rise in Africa and the Middle East. Orders in Western Europe, Alstom's biggest market, rose 15 per cent.

Kron said Alstom's presence in India in non-conventional power generation businesses such as hydro, nuclear and renewables may help it to ward off the current slowdown in India's electricity sector.

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