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CNBC reported Areva (EPA:AREVA) saw revenues decline 2.6% in 2011 after a uranium mining disaster, change in leadership and global uranium price drop.
CNBC reported Areva (EPA:AREVA) saw revenues decline 2.6% in 2011 after a uranium mining disaster, change in leadership and global uranium price drop.
As quoted in the market news:
The company’s new chief executive, Luc Oursel, unveiled a turnround plan at the end of last year that included the suspension of some projects, a partial hiring freeze in France and massive layoffs in Germany, which has decided to shut down all of its nuclear plants by 2022. But even with those measures, Oursel has warned that Areva will post an operating loss of between euro1.4 billion and euro1.6 billion (between $1.8 billion and $2.1 billion) for 2011. The company reports its profits March 2.
Click here to read the full CNBC report.