Areva: Siemens Breached Contract With Rosatom Deal

Areva: Siemens Breached Contract With Rosatom Deal
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Τετ, 4 Μαρτίου 2009 - 18:06
French nuclear group Areva SA (CEI.FR) Wednesday said industrial conglomerate Siemens AG (SI) breached a contract it held with Areva by signing a memorandum of understanding Tuesday with Russia's state nuclear firm Rosatom to create a joint venture for building nuclear power plants, an Areva spokeswoman told Dow Jones Newswires.
French nuclear group Areva SA (CEI.FR) Wednesday said industrial conglomerate Siemens AG (SI) breached a contract it held with Areva by signing a memorandum of understanding Tuesday with Russia's state nuclear firm Rosatom to create a joint venture for building nuclear power plants, an Areva spokeswoman told Dow Jones Newswires.

"Siemens has obligations to respect and we will take measures against the breach of contract," the spokeswoman said, without being more specific.

Earlier Wednesday, French daily Le Figaro reported Areva was denouncing Siemens for not respecting a covenant not to compete by signing the agreement with Rosatom.

In February Siemens said it will step out of the Areva NP nuclear power joint venture it holds with France's Areva.

Siemens wasn't immediately available for comment.

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