by Staff Writers
Paris (AFP) March 1, 2017
The troubled French nuclear reactor builder Areva said Wednesday that it sharply narrowed its losses last year, thanks to an ongoing restructuring programme.
In the red for the sixth year in a row, Areva said it booked a bottom-line loss of 665 million euros ($700 million) in 2016, compared with a loss of 2.04 billion euros a year earlier.
In 2015, Areva had been compelled to make substantial provisions for restructuring and for additional losses on its EPR pressurised water reactor project in Finland.
"The group's environment remained very difficult in 2016, in particular with a sharp drop in uranium and enrichment prices and a slowdown in services," Areva said in a statement.
"It's far from satisfactory to be making a loss... but the group is turning itself around," finance chief Stephane Lhopiteau told a telephone news conference.
In addition to slashing 6,000 jobs, asset sales and one billion euros in cost-cutting by 2018, Areva is planning two capital increases of five billion euros in total, of which its majority shareholder, the French state, will shoulder 4.5 billion euros.
Manchester UK (SPX) Feb 28, 2017
The University of Manchester is to lead a consortium to build the next generation of robots that are more durable and perceptive for use in nuclear sites. The cost of cleaning up the UK's existing nuclear facilities has been estimated to be between 95 billion pounds and 219 billion pounds over the next 120 years or so. The harsh conditions within these facilities means that human access is highl ... read more
Nuclear Power News - Nuclear Science, Nuclear Technology
Powering The World in the 21st Century at Energy-Daily.com
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|