Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Crisis talks to save historic Derby rail plant from closure

by March 19, 2024
March 19, 2024
Crisis talks to save historic Derby rail plant from closure

Ministers are in last ditched negotiations with Alstom in a bid to prevent the closure of the iconic Derby train manufacturing facility, a move that could result in the loss of thousands of jobs across the industry.

Alstom, the French conglomerate that acquired the Litchurch Lane factory from Bombardier during the pandemic, is considering relocating production to Poland or India unless the government provides assurance regarding new train orders.

With current workloads at the plant coming to a standstill and the commencement of new train projects for the HS2 high-speed line delayed, over 1,300 workers at Derby have already been notified of potential contract terminations.

Alstom is on the brink of unveiling Adessia, a cutting-edge commuter train manufacturing platform capable of producing battery and hydrogen-powered rolling stock. These innovative trains are slated to replace Aventra trains manufactured by Derby for various railway networks, including London’s Elizabeth Line and Overground networks, South Western Railway, and West Midlands Railway.

However, despite months of negotiations with Transport Secretary Mark Harper, Alstom remains apprehensive about the lack of progress. Nick Crossfield, Alstom UK’s managing director, emphasized the significance of their next-generation trains for both Derby and the UK rail sector. He underscored the urgency in creating certainty for staff and suppliers, stressing the need for collaboration with the government.

While Alstom seeks commitments from the Department for Transport (DfT), the department remains hesitant to provide assurances for future work at Derby.

In a statement, the DfT emphasized the importance of rail manufacturing in bolstering the UK economy and enhancing passenger services. However, they refrained from committing to Alstom’s demands, stating ongoing engagement with the company regarding the future of its Derby site.

The Railway Industry Association has sounded alarms, warning that prolonged delays in new train orders jeopardize the entire sector. They urge ministers to break free from the historical boom-and-bust cycle plaguing the industry, emphasizing that indecision could result in diminished service quality and increased costs for passengers.

Read more:
Crisis talks to save historic Derby rail plant from closure

0
FacebookTwitterGoogle +Pinterest
previous post
Haiti, US Embassy entrance area plunge into darkness as vandals attack power plant and substations
next post
How SMEs are adapting their recruitment approach to counter cost-of-living pressures in 2024

You may also like

Post Office Scandal compares to IR35 scandal

January 11, 2024

UK risks sleepwalking into food supply crisis, says...

December 6, 2022

Recession fears rise as services contract, purchasing managers’...

December 6, 2022

Insurer forced to pay thousands of pounds to...

January 4, 2024

JP Morgan’s Jamie Dimon puts US recession risk...

April 14, 2025

Mira Murati, OpenAI’s former CTO, launches new ai...

February 20, 2025

Living standards to stagnate in 2025 despite hopes...

December 27, 2024

English Wine Producers Anticipate Bumper Harvests Following July...

August 12, 2023

70% of mid-sized businesses on track to incorporate...

October 19, 2023

Flexible office space provider secures £2.5m investment to...

December 7, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • How Automated Packaging is Revolutionizing Supply Chains

      May 15, 2025
    • Business Settings that Need Rolling Shutters

      May 15, 2025
    • What’s Driving the Drop in Overdose Deaths?

      May 15, 2025
    • The real breakthrough in U.S.–China trade talks is much bigger than just tariffs

      May 15, 2025
    • Dem senator says ‘no doubt’ Biden declined cognitively during presidency

      May 15, 2025
    • Trump makes historic UAE visit as first US president in nearly 30 years

      May 15, 2025

    Categories

    • Business (7,968)
    • Investing (1,960)
    • Politics (15,230)
    • Stocks (3,084)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved