Plans for the UK to reinvigorate its nuclear industry supply chain in support of a new fleet of nuclear reactors could be further complicated, following reports engineering giant Rolls Royce is looking to sell much of its civil nuclear business. The Sunday Times reported yesterday that the company has hired consultancy KPMG to find a buyer for its nuclear division, in a move which could result in a deal worth around £200m. The division specialises in monitoring and control equipment for measuring the temperature and radiation levels from nuclear reactors. The proposed move is thought to be part of chief executive Warren East’s plans to re-focus the engineering giant on its core jet engine, power generation turbine, and defence interests. However, it also comes amidst growing uncertainty over the future of planned new reactors both in the UK and further afield, after a number of flagship projects were shelved and cost competition from renewables continues to intensify. A spokesman for the company confirmed “Rolls-Royce is conducting a review of options for its international civil nuclear business”.
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Rolls-Royce is reportedly looking to sell the majority of its civil nuclear business in a deal that could be worth around £200 million. The Sunday Times reported the company has hired KPMG consultants to find a buyer for its nuclear division. The proposed move is believed to be part of Rolls-Royce’s Chief Executive Warren East’s plans to re-focus the company in other areas, including core jet engines, power generation turbines and defence. The company supplies safety systems to more than 150 nuclear power stations in the world. A spokesperson from Rolls-Royce said: “Rolls-Royce is conducting a review of options for its international civil nuclear business.” Earlier this year, it signed a contract to provide back-up power to the Hinkley Point C nuclear power plant in the UK. It is understood the proposed sale would not include Rolls-Royce’s work on the Hinkley project.
Energy Live News 4th March 2019 read more »
