Alstom Transport Sees No Euro Impact

By Foo Yun Chee

AMSTERDAM (Reuters) - TGV train maker Alstom (ALSO.PA: Quote, Profile, Research) is shielded from the strong euro by its global production facilities and is not looking for big acquisitions, the head of its transport unit said on Wednesday.

"We try to produce where our customers are. Our exposure to exchange rates is minimum," Transport President Philippe Mellier told reporters.

"It is better to be close to our customers, not just for production but for maintenance. Today, it is saving us," he said.

The euro hit an all-time high above $1.59 against the dollar on Monday. A strong euro eats into export-oriented companies' profits and erodes their competitiveness.

Asked if Alstom was interested in acquiring the transport unit of Canadian rival Bombardier (BBDb.TO: Quote, Profile, Research), Mellier said: "I have no ambition (to take over Bombardier). I am not in the business of looking at competitors to buy them."

Bombardier Transportation is definitely not up for sale, a Bombardier spokesman said.

Mellier said the company could only make small acquisitions as it was constrained by a rescue plan implemented in 2004 when it became the subject of a state-orchestrated bailout.

Alstom, which says it has made 70 percent of the trains that run faster than 300 km per hour, sees demand for about 1,000 high-speed and very high-speed train sets in the next 15 years, said Mellier.