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« Rick Rule: What to Ask Before Investing in Natural Resource Stocks | Main | If You're Concerned About Climate Change, You Should Support Nuclear Power »
Wednesday
May072014

Rolls-Royce Holdings to Focus on Nuclear Power

London-Based Engineering Group to Dispose of Assets After Selling Energy Unit to Siemens AG

Rolls-Royce Holdings RR.LN -2.98% PLC will focus on growing its civil nuclear power activities and dispose of other assets after agreeing to sell the bulk of its energy unit toSiemens AG SIE.XE +2.06% .

The London-based company may sell residual activities in fuel cells and smaller power stations that Siemens does not want, Rolls-Royce's Chief Financial Officer Mark Morris said Wednesday.

No timeline was given for the transactions.

Two years ago, Rolls-Royce sold a 51% stake in its fuel cell operation to electronics company LG for $45 million.

Rolls-Royce meanwhile will seek to expand its civil nuclear power activities, Mr. Morris said.

The agreement struck yesterday to sell it's aircraft engine-derived civil energy activities to Siemens for £785 million ($1.3 billion) has "clear industrial logic," Mr. Morris said.

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The miners have started 2014 very well indeed on the back of rising gold prices, so the question is; is this the real deal or another head fake? Is the bottom really in? Could there be a final capitulation just ahead of us? Will the summer doldrums take the PMs lower?

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