SOURCE: Industrial Info Resources

Industrial Info Resources

December 20, 2011 05:15 ET

Areva Halts Nuclear Projects to Reduce Debts, an Industrial Info News Alert

GALWAY, IRELAND--(Marketwire - Dec 20, 2011) - Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) -- Europe's largest nuclear engineering firm, Areva S.A. (EPA:CEI) (Paris, France), will cancel planned expansions at a number of unspecified French nuclear plants as part of a major cost-cutting exercise to get the company out of financial difficulties.

The French company, which expects operating losses for this year to amount to around EUR 1.6 billion ($2.1 billion), blamed the impact that the disaster at Japan's Fukushima Daiichi nuclear plant has had on nuclear build projects and its uranium mining operations.

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