AREVA scrambles to sell nuclear technology to China
Areva Looks To China As France Rethinks Nuclear Power By Francois de Beaupuy and Caroline Connan – Jul 7, 2012 Areva SA (AREVA) Chief Executive Officer Luc Oursel is seeking fresh talks to sell nuclear reactors to China , halted in the wake of last year’s nuclear accident in Japan and amid questions about the new French government’s energy stance. ….
French President Francois Hollande, who took office in May, pledged to cut the nuclear-power
portion of France’s electricity production to 50 percent by 2025 from about 75 percent now, and to invest in renewable energies. Hollande wants to allow the completion of a nuclear reactor currently built with the technology of Paris-based Areva in Flamanville, and to shut
the country’s oldest nuclear plant by the end of his five-year term…..
Areva, the world’s largest builder of nuclear reactors, has been seeking business in countries such as China and India, where economic
growth has spurred demand for diversified energy sources…..
The meltdown of a nuclear facility in Japan last year after an
earthquake, construction delays at an atomic facility in Finland , and
a 2007 investment in African uranium mines that soured led to a record
loss for Areva in 2011. Oursel has pledged to slash costs, pare
investments, and sell non-core assets to restore profits at the
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