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Russian atomic company loses in Siemens exit from nuclear industry

Siemens partner biggest loser in nuclear exit, By Marilyn Gerlach, FRANKFURT, Sept 19 | 2011 (Reuters) – Siemens’  exit from its nuclear partnership with Rosatom robs the Russian player of a famous brand name it badly needs to compete with the likes of Areva NP , General Electric and Toshiba ….

Siemens will now move very, very aggressively into other segments of the market, such as gas and renewables,”analyst Thomas Langer of WestLB said…..

Atomenergoprom was created by Vladimir Putin, while he was Russian president, to merge all of Russia’s civilian nuclear assets and help them compete in the global market.

Russia, one of the world’s biggest sellers of uranium enrichment services, has been trying to break into the prosperous nuclear markets of the United States and the European union….

Competitors include Areva NP, a unit of Areva S.A. CEPFi.PA; Japan`s Toshiba Corp, which owns U.S.-based Westinghouse; and GE Hitachi, the nuclear venture of U.S. conglomerate General Electric and Japan`s Hitachi .

September 21, 2011 - Posted by | Russia

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