UK engineering company Rolls-Royce is preparing to offload its civil nuclear arm according to a 3 March report in the Sunday Times. Auditor KPMG has been brought in to find a buyer for its civil nuclear division, in a deal which could be worth £200 million, the paper said.
Rolls-Royce has supplied controls and systems technology to over 200 nuclear power plants worldwide over 50 years and is currently working on a contract with EDF and China General Nuclear for Hinkley Point C plant. Rolls-Royce is contracted to supply heat exchangers, an integrated emergency diesel backup power system and systems for the treatment and waste processing of reactor coolant.
A Rolls-Royce spokesperson confirmed that: “Rolls-Royce is conducting a review of options for its international civil nuclear business.”
However, NEI understands that existing contracts with Hinkley Point C would not be offloaded as part of the sale and that Rolls-Royce would honour its commitments to develop small nuclear reactor technology as part of a wider consortium.
The move is the latest to restructure the company, which included shifting its fuel-injection subsidiary L’Orange, and its marine business in separate deals worth a combined £1.1bn in 2018.