Faiveley is a leading provider of train equipment (particularly door systems and brakes). Investment in rail projects will continue despite stretched government finances as it is both "green" and creates employment ($1bn invested in a railway creates up to 53,000 direct and indirect jobs). Faiveley is in a niche which is technically complex (meaning limited competion). It trades at a P/E discount to the large integrated rail suppliers, such as Bombardier, while generating higher margins.
