Word: areva
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...Areva and Lauvergeon are on a roll these days. Nuclear power, written off as dead throughout Europe and much of the rest of the world over the past two decades, is suddenly back in fashion. The public still shudders when recalling the accident at Pennsylvania's Three Mile Island plant in 1979 and the disaster at Chernobyl seven years later. But with worldwide demand for energy rising sharply, oil spiking at more than $60 per bbl. and fears growing about the lasting impact of greenhouse gases, the outlook for nuclear power today is, well, quite radiant...
...energy and politics clambered into a huge hole in the Finnish town of Olkiluoto to watch a laser light show as the climax of the groundbreaking for the first nuclear plant to be built in Europe in 14 years. The winner of the $3.6 billion plant contract was Areva, in a joint venture with Germany's Siemens. China currently has nine nuclear reactors in operation and says it will increase its nuclear capacity fivefold by 2020. The Chinese are expected to select a Western contractor for two new plants this year. The race is among Areva, Westinghouse and Russia...
...Areva is well placed in the U.S. too. In September it announced a joint venture with Constellation Energy, based in Baltimore, Md., to promote a new generation of nuclear plant and expects orders for four reactors once the technology is approved by the Nuclear Regulatory Commission. Even in nuclear-resistant Europe, official attitudes are shifting. Bulgaria is holding a tender for two new reactors; British Prime Minister Tony Blair has called for a debate about the future of nuclear power amid signs that the government may order several new plants; and in Germany and Sweden, public debates are raging about...
...Areva should capitalize on any comeback because it is a one-stop nuke shop, with revenue last year of $13.5 billion and earnings of $513 million--almost a one-third share of the worldwide market. Unlike its key competitors, Westinghouse and General Electric, Areva spans all aspects of the business. It mines and enriches uranium ore to make nuclear fuel; it designs and constructs reactors and helps operate them; and it recycles the spent fuel and packages the remaining waste...
Opinion surveys commissioned by Areva for internal use show that nuclear power's reputation has been improving. As recently as 2002, more people stressed the drawbacks of nuclear power than its advantages, according to the surveys. But that trend has reversed, and a clear majority now cite the pros rather than the cons. Critically, the surveys show that most respondents say concern about greenhouse gases and climate change are the key reasons for their views...