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CNBC reported Areva (EPA:AREVA,FRA:AREVA) will post a massive full-year loss in 2011 because of a troubled mining projects.
CNBC reported Areva (EPA:AREVA,FRA:AREVA) will post a massive full-year loss in 2011 because of a troubled mining projects.
As quoted in the market news:
Areva said it expects to make an operating loss of between euro1.4 billion and euro1.6 billion this year, compared to a profit of euro883 million in 2010.
Areva’s new chief executive, Luc Oursel, is scheduled to present Tuesday a five-year turnaround strategy for the company aimed at slashing its operating costs by up to euro1 billion annually by 2015.
Click here to read the full CNBC report.