Au revoir, Areva?

“Rotten” reactor design …..Hinkley C ….Areva’s shares plummet. Why persist with the nuclear nightmare? Is it for reasons other than electricity? Is it to continue producing the radionuclides necessary for nuclear weapons?

GreenWorld

EDF is building an Areva EPR reactor at  Flamanville, France. Like all Areva nuclear projects these days, it's not going well. EDF is building an Areva EPR reactor at Flamanville, France. Like all Areva nuclear projects these days, it’s not going well.

The giant French nuclear reactor manufacturer Areva is in serious trouble. According to several reports published today (here’s one from New York Times,  here’s one from Reuters), publicly-traded shares in Areva dropped 15% yesterday. That plunge doesn’t in itself affect Areva as much as it would other companies, since only a small portion of Areva’s shares are publicly-traded–the French government owns 87% of the entity.

But that doesn’t make Areva’s troubles any less real. The company, which recently lost its CEO to health issues, warned yesterday that its outlook is uncertain and suspended its financial projections for both 2015 and 2016. That doesn’t bode well.

Areva’s problems are legion, but two huge missteps over the past decade continue to haunt the company.

The first was agreeing back…

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3 thoughts on “Au revoir, Areva?

  1. Wow you are on top of things! 42% of UK arms sales are to Saudi, according to this! http://books.sipri.org/files/FS/SIPRIFS1403.pdf Also, Kuwait Investment Authority, which seems essentially the Kuwaiti state owns about 4 or 5% of Areva. I was thinking more along the lines of why bother to try to prevent terrorist attacks if you are letting the country that has done the most to promote Islamic extremism into the ownership! They actually had an alleged terrorist working at CERN in Switzerland. I have issues with “au revoir” Areva. I like the sound so wished I could have used it (spent much time pontificating on it well before this post) but I do not want to revoir (see again) Areva. Normally then it should be Adieu, but they aren’t going to God – which leaves Au diable Areva! To the devil Areva! In the end I prefer that they just go sit on the Fukushima corium if they can find it. They have even failed in the Fukushima clean-up. They sold the MOX in one of the Fukushima reactors. If the French state wants to come back with green energy then I won’t mind seeing them again – but to the devil with nuclear, where it belongs!

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