Alstom to sell steam components unit to Triton for $1 billion.

Alstom SA, the French maker of trains and power equipment, agreed to sell its steam auxiliary components unit to investment firm Triton for about €730 million ($1 billion) as it seeks to shore up its balance sheet.

'The business, which makes air preheaters and gas heaters for thermal power plants, heat transfer technology for petrochemical and industrial processes, and grinding mills, generated about €430 million in revenue and a double-digit operating margin in the fiscal year ended yesterday,' the company said in a statement.

'This transaction highlights the strength and value of Alstom portfolio of activities, and illustrates the group's ability to deliver on its strategy of selective, value-enhancing disposals,' Alstom chief financial officer (CFO) Nicolas Tissot said in the statement.

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