Rolls-Royce to sell civil nuclear I&C firm to Framatome: Rolls-Royce will sell its civil nuclear instrumentation & control (I&C) business having signed an agreement with French firm Framatome.
The I&C business group consist of all of Rolls-Royce activities and teams situated in Grenoble in France, Prague in the Czech Republic and Beijing & Shenzhen in China.
The agreement does not contain its civil nuclear business or small modular reactor activities within the UK.
Warren East, Rolls-Royce CEO states: “This transaction marks a further simplification of our business and contributes towards our target to generate over £2bn from disposals.
“We also believe it represents the best outcome for this part of our civil nuclear operations and its people.”
The transaction is scheduled to be concluded in the second half of 2021, subject to closing circumstances, containing regulatory approvals.
In the meantime, the two businesses, will stay independent & will proceed to operate as normal.
Bernard Fontana, CEO of Framatome announced: “The purchase of the Rolls-Royce civil nuclear I&C business aligns with our strategy to ensure the continuity of a strong skill base and to expand our footprint for long term operations.
“We are committed to helping our customers sustain their nuclear power plants as reliable and competitive sources of low carbon electricity well into the future.”
Rolls-Royce to sell civil nuclear I&C firm to Framatome