ECONOMY

Metka, Alstom hook up on energy front

Engineering firm Metka yesterday signed a strategic agreement with France’s Alstom that will allow for the joint construction of energy plants in a deal that could lead to cross holdings between the two firms, the two companies said. The agreement involves Alstom providing equipment and technology in contracts undertaken in Greece and Southeastern Europe, while Metka will oversee the project. «By joining forces with a credible manufacturer of electricity production plants, this will undoubtedly boost both companies in attempts to maximize our participation in the energy market’s developments in Greece and in neighboring countries,» said Patrick Kron, Alstom’s chairman. Alstom has been active in the Greek market for some 30 years and has provided the technology for 70 percent of the energy produced in the country. The group is considered to be a leader in the world energy infrastructure market with annual consolidated turnover exceeding 13 billion euros. Confirmation of the deal helped send shares in Metka, a subsidiary of Mytilineos holdings, more than 1 percent higher on the Athens bourse yesterday closing the session at 9.06 euros. Questioned on the two firms being involved in a cross holdings deal, company officials ruled out the possibility for now. «This doesn’t mean that it won’t happen in the future, especially if the agreement goes well. This option is still open,» said Evangelos Mytilineos, president of Mytilineos Holdings.