As of yesterday, Siemens has announced plans to exit from the nuclear business. The final sticking point was the agreement with Rosatom which is a Russian state controlled nuclear power company. There was a risk here that this would offend the Russians who are or are likely to be customers for many of the other products and services inside the Siemens vast portfolio. Even so, Siemens still intends to supply the generator/turbines and control products that are used in both conventional and nuclear power facilities. This also frees up resources that can be applied to creating new products for renewable energy.
The breakup of the Rosotom deal also presents a benefit because it ends any non-compete complications that arose as a result of the Areva deal ending.
If there had been any doubt, the fact that Germany itself was phasing out nuclear, pretty much forced the hand of Siemens to take the risk of offending Russia instead of the German government and people that constitute a major share of its market. The fact that it might help appease Areva is a bonus.
Siemens does intend to continue supplying replacement parts and service for its installed base of reactors including the 17 in Germany.
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