Tuesday, December 13, 2011

Big Losses at Areva

Areva, the French nuclear flagship. 87% state-owned, announced losses of 1.4 to 1.6 billion euros. Although the poor performance has been blamed on the downturn in the nuclear industry caused by the Fukushima disaster, Areva's problems are deeper, with major losses incurred from design flaws and other problems with the EPR construction in Finland and Flamanville as well as from a uranium mine acquisition in Canada.

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