Chattanooga Reacts To Billion Dollar G.E & Alstom Merger

European Union commissioner Margarethe Vestager gave the thumbs up for G.E to buy French energy corp Alstom after a year long saga.

"This transatlantic deal brings together two of the largest players when it comes to energy generation equipment world wide".

Alstom have had a  manufacturing presence in Chattanooga for half a decade.
Mayor Jim Coppinger hopes the G.E takeover will create more jobs for the Scenic City.

"They got caught in a situation where they did lose some jobs and the good news was that they continued to make a significant in their capital investment here and far exceeded what we expected but their job numbers did never meet where we wanted them to be".

Alstom employs almost 400 Chattanoogans.Yet 80 employees lost their jobs earlier this year.

Southern Adventist business professor Mark Guild has spent more than decade involved in Fortune 500 international mergers.

"You figure that Alstom, Mitsubishi, G.E and Siemens are the big four players in this arena and now one of them is buying one of the other ones, so is it still competitive with just three in the market place?"

Alstom in Chattanooga manufactures turbines and boilers for nuclear, coal and gas power stations.

"They do A, B and C very well, so they are looking to fill D, E and F so we will see these companies come together acquire one another to fill those gaps", added Guild.