Rolls Royce, which describes itself as a "global power systems company", has won a €250m contract to supply safety instrumentation and control systems for the French nuclear reactor modernisation programme.
The systems will be installed in the twenty-strong French fleet of 1300 mega watt nuclear reactors operated by Electricit de France (EDF).
This project is being carried out by AREVA as part of planned, ten-yearly series of outages.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Rolls-Royce will provide the "reactor protection system" and the "nuclear instrumentation system" for the power plants to ensure they comply with safety and licensing requirements.
Benoit Chabre, President of Rolls Royce's Instrumentation and Control division said: "We are proud of our relationship with Areva and our long partnership with EDF which spans over forty years. We are pleased that they have once again put their trust in our world-class technologies which help to ensure the safety and performance of their reactors."
Rolls Royce has significantly out-performed the FTSE 100 this year, with its shares up 16% since January, whereas the UK's leading index is down 9%.
BS
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
