Alstom would reevaluate the book value of its TMH holding as part of the closing accounts of FY 2021/22. Credit: Alstom.

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Alstom has put a hold on all future business investments and deliveries in Russia, in keeping with sanctions imposed on the country for its attack on Ukraine.

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The French rolling stocking manufacturer has a 20% interest in Russian locomotives and rail equipment manufacturer Transmashholding (TMH), which focuses on the local market.

Alstom stated that it has no material business or operational link with TMH, adding that it would reevaluate the book value of its TMH holding in the closing accounts of FY 2021/22.

The company also committed to abiding by all applicable laws and sanctions.

In a statement, it said: “Alstom is closely monitoring the dramatic situation currently happening in Ukraine. The safety of our employees and their families is, as always, our first priority. 

“A dedicated team has been set up to manage the situation since the beginning of the conflict, taking actions to best support them.”

Besides, Alstom suspended partnership talks with Ukrainian rail operator UZ as a result of the conflict.

The French train maker has now decided to stop the supply of locomotives and related services to UZ.

“Alstom has expressed its deep solidarity with UZ during this dramatic time,” said the company.

Separately, Alstom secured a €124m framework contract to design and deploy the European Rail Transport Management System (ERTMS) in four regions of Italy.

The contract, awarded by Rete Ferroviaria Italiana (FS Italiane Group), will serve Sicily, Lazio, Abruzzo and Umbria.