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Siemens teams up with Russia for slice of nuclear pie

by Frederic Happe Frederic Happe – Wed Mar 4, 2:17 pm ET

BERLIN (AFP) – Siemens has become the latest German firm to up its game and tap into the renewed interest in nuclear power being seen all across the world — but not in the company’s own backyard.

The Munich-based industrial giant said late Tuesday it had signed a memorandum of understanding to form a joint venture with Russian firm Rosatom that they hope will become the “world market leader” in nuclear technology.

The joint company, in which state-run Rosatom will hold 50 percent plus one share, will be active along the entire nuclear chain from making the fuel, building atomic power stations to decommissioning of old plants. Continue reading Siemens teams up with Russia for slice of nuclear pie