Seimens exits nuclear power generation

Added by Erik West on September 19, 2011

Siemens announced on Sunday that it is exiting the nuclear business, ending a key partnership with a Russian state nuclear corporation that had hopes of competing with other nuclear competitors.

Chief Executive Peter Löscher said, “The (nuclear) chapter is closed for us,” in a declaration of Siemens’ official position for the first time since the Fukushima crisis in Japan and the German government’s decision to phase out the use of nuclear energy.

The Russian state nuclear corporation, Rosatom, and Siemens partnered in 2009 – Siemens planned to increase its footprint in the nuclear business and Rosatom planned to use its partnership to gain credibility in the international nuclear marketplace.

Löscher said Siemens’ decision to withdraw from the nuclear industry is in response to “the very clear stance taken by Germany’s society and political leadership.”

Löscher added, “We will from now on supply only conventional equipment such as steam turbines. This means we are restricting ourselves to technologies that are not only for nuclear purposes but can also be used in gas or coal plants.”

Siemens plans to continue to produce turbines for nuclear and other power plants, yet will not provide products for use within the parts of the nuclear plant that work directly with nuclear fuel.

Siemens does not have plans to exit other nuclear-related businesses such as nuclear medicine.