Erlangen, Germany, September 20, 2011 — Following Germany's withdrawal from nuclear energy, German industrial firm Siemens has decided not to do business in the nuclear sector.
"We will no longer be involved in overall managing of building or financing nuclear plants. This chapter is closed for us," CEO Peter Loescher told a German newspaper.
Siemens will no longer produce equipment that can only be used in the nuclear energy sector. Equipment that can be used across different generation technology — such as natural gas, hydropower, coal or nuclear — will still be made and serviced by Siemens, according to reports.
As part of the company's decision, it will back out of a joint nuclear venture with Russia's Rosatom.