AREVA Plans Canberra Sale

AREVA plans to sell off its subsidiary Canberra as part of its restructuring plan, the company announced yesterday. AREVA suffered heavy losses last year, and in an attempt to right the ship, the company plans to refocus on nuclear fuel cycle activities, which would leave Canberra as disposable. “The transformation plan underway at AREVA has led the group to refocus on nuclear fuel cycle activities,” the company said in a release. “In this context, AREVA has launched the disposal of its subsidiary Canberra, specialized in nuclear measurement systems and instrumentation. Canberra’s employees have been informed of this approach.” According to AREVA, Canberra achieved sales revenue of approximately $201 million in 2014 and includes over a thousand employees throughout the world, a quarter of whom are in France.