Shares Of Ottawa LRT-Builder Alstom Plunge
This is not the worst news Ottawa’s troubled light-rail project could have but it’s very bad.
Alstom built the trains for Ottawa’s problem-plagued commuter train:
Shares of French train manufacturer Alstomplummeted 35% on Thursday, according to LSEG data, after the company slashed its free cash flow forecast.
In unaudited half-year results released on Wednesday evening, the company said its free cash flow had fallen from negative 45 million euros ($47 million) to negative 1.15 billion euros. It also said it now expects free cash flow in a range of negative 500-750 million euros for the full year, compared to a prior forecast of “significantly positive.”
Trillium Line Late, But Not Rushed: WHOPPER WATCH
Trading of Alstom shares was briefly suspended at the open of the Paris Stock Exchange.
To read the story from financial website CNBC, click here.
—
Don’t miss our regular features
Everything Ottawa Full Local Bulldog Canadian
Opinion Comments Breaking News
Ontario World Get Cheap Gas Big Money
Pop Gossip Your Home Relax …
Bulldog Weather Full Local Sports
Page 2 Page 3 Page 4 Page 5 Page 6
-
-
-
-
-
-
-
– The Bulldog – News Feed Enter 
So those of us who chose to hedge our bets with Alstom shares to try and balance out the losses from the LRT’s non-availability are still going to get screwed, They get you coming and going, don’t they!