E.U. to rule on Siemens, Areva probe

Brussels, June 18, 2012 — E.U. regulators will decide soon whether to accept concessions offered by Germany's Siemens and France's Areva to end an investigation into their former nuclear power joint venture. Areva and Siemens declined to comment.

If the regulator agrees to accept the concessions, it would then drop the investigation without a fine for Siemens or Areva.

Companies can be fined up to 10 percent of their turnover for breaching E.U. antitrust rules.

The regulator investigation centers on a non-compete clause signed by the companies as part of joint venture Areva NP, which still applied after Siemens quit the venture in 2009.

In March, Siemens and Areva offered to limit the non-compete obligation to all Areva NP core products and services for three years after Siemens left the venture. They also proposed to drop the clause for non-core products and services.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs