PARIS: French state-controlled nuclear group Areva said its new strategy would focus on its core nuclear business, boosting its partnership with utility EDF and developing its presence in China.
The company, which has made losses in the past four years, said on Wednesday that it will try to boost competitiveness with a plan to achieve 1 billion euros ($1.12 billion) of annual cost savings by 2017.
Areva said that before the publication of its 2015 first-half results on July 30 it will define a three-year financing plan that will bring more selective capital expenditure, asset disposals and partnerships with an equity component.
"The company is also studying ways to adequately strengthen its equity," Areva said in a statement.
The group also said it was targeting positive operating cash flow in 2017 and positive net cash flow in 2018.
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