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Alstom Transport and Balfour Beatty plc have teamed up to form Signalling Solutions Ltd., a United Kingdom-based joint venture company offering rail signaling services in Ireland and the U.K.

Each company holds a 50 percent stake in the joint venture, which will be responsible for signaling contracts worth more than $141 million. Signalling Solutions will offer planning, design, installation, testing and commissioning services for all types of rail signaling.

"The combined strengths of Alstom and Balfour Beatty make this company a one-stop shop with a highly experienced workforce able to understand and deliver the complex systems of today's signaling technology," said Manfred Leger, Balfour Beatty group managing director-rail engineering and services, in a prepared statement.