General Electrics pledges to create 1000 jobs in France

GMT 18:17 2014 Wednesday ,28 May

Arab Today, arab today General Electrics pledges to create 1000 jobs in France

CIO of General Electrics
Paris - XINHUA

General Electrics (GE), which recently bid to take over the energy division of French giant Alstom, committed to creating 1,000 jobs in France by
"The offer from GE has improved and been reinforced, particularly on employment," a French presidency office source close to the affair was quoted as saying by news channel BFMTV.
"But there is still work to be done on employment, location of decision-making centers and so on," the source added, as French President Francois Hollande met GE chief executive Jeff Immelt earlier on Wednesday.
In its takeover bid, the American group proposed a sum of 12.35 billion euros (16.82 billion U.S. dollars) while its rival Siemens from Germany said a formal offer would be submitted by June 16.
During a hearing at the French National Assembly on Tuesday, both bidders promised to reinforce Alstom's performance and boost jobs in a bid to ease the government concerns over Frances' energy position and "national interests."
Earlier this month, the French government issued a new decree to boost the state's veto power to block foreign takeover of important companies. The government said better bids would preserve jobs and the country's energy independence. (1 euro = 1.362 U.S. dollar)


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