Tags: Siemens | nuclear | energy | Germany

Siemens Quitting Nuclear Business

Monday, 19 Sep 2011 09:34 AM

Siemens said Sunday it is quitting the nuclear energy business to focus on other technologies.

The German industrial conglomerate confirmed remarks by chief executive Peter Loescher in weekly German magazine Der Spiegel that his company would continue to deliver components to nuclear plants as needed, but would not invest any more in developing nuclear energy.

A joint venture planned with Russian nuclear firm Rosatom will be canceled.

Loescher's announcement comes months after Chancellor Angela Merkel's government decided to phase out nuclear energy by 2022, following post-earthquake nuclear disaster.

Already in 2001, Siemens had decided to spin off the bulk of its nuclear business into a joint venture with a French company.

Loescher told Spiegel in an interview published Sunday the decision was "a response to the clear position of the German public and government."

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
Markets
Siemens said Sunday it is quitting the nuclear energy business to focus on other technologies. The German industrial conglomerate confirmed remarks by chief executive Peter Loescher in weekly German magazine Der Spiegel that his company would continue to deliver components...
Siemens,nuclear,energy,Germany
134
2011-34-19
Monday, 19 Sep 2011 09:34 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved