Sunday Times reports that engineering giant has appointed consultants to find a buyer for the majority of its nuclear division
Plans for the UK to reinvigorate its nuclear industry supply chain in support of a new fleet of nuclear reactors could be further complicated, following reports engineering giant Rolls Royce is looking to sell much of its civil nuclear business.
The Sunday Times reported yesterday that the company has hired consultancy KPMG to find a buyer for its nuclear division, in a move which could result in a deal worth around £200m.
The division specialises in monitoring and control equipment for measuring the temperature and radiation levels from nuclear reactors.
The proposed move is thought to be part of chief executive Warren East's plans to re-focus the engineering giant on its core jet engine, power generation turbine, and defence interests.
However, it also comes amidst growing uncertainty over the future of planned new reactors both in the UK and further afield, after a number of flagship projects were shelved and cost competition from renewables continues to intensify.
A spokesman for the company confirmed "Rolls-Royce is conducting a review of options for its international civil nuclear business".
However, there was some good news for the government's plans for a new wave of nuclear investment, with the reports suggesting the proposed sale would not include Rolls Royce's work for the high profile Hinkley Point project, nor its involvement in a consortium working on plans for a new generation of small modular reactors and its submarine reactor unit.