nuclear-news

Losses and falling demand for uranium – AREVA to sell off nuclear radiation measurement unit

Areva Said to Commence Sale of Nuclear Unit Canberra , Bloomberg, By Anne-Sylvaine Chassany and Francois de Beaupuy – May 2, Areva , the largest nuclear reactor maker, has started a process to sell its nuclear radiation measurement unit Canberra, three people with knowledge of the plans said.
The state-controlled company based in Paris sent financial information to potential bidders for the asset, which may fetch as much as 400 million euros ($526 million), said the people, who declined to be identified as the talks are private. Canberra posted earnings before
interest, taxes, depreciation and amortization of about 30 million euros, they said.

Areva Chief Executive Officer Luc Oursel, who took over from Anne Lauvergeon in June, plans to sell at least 1.2 billion euros of non-strategic assets by the end of 2013 to shore up a balance sheet that’s been impaired by the acquisition of uranium mines in Africa, losses at a nuclear reactor under construction in Finland and falling demand for nuclear fuel following last year’s accident at an atomic plant in Japan…. http://www.bloomberg.com/news/2012-05-02/areva-said-to-commence-sale-of-nuclear-unit-canberra.html

May 3, 2012 - Posted by Christina Macpherson | business and costs, France