Siemens Abandoning Nuclear Power Business

By Judy Dempsey

Berlin — Siemens, the largest engineering conglomerate in Europe, announced Sunday that following the German government’s decision to phase out nuclear power by 2022, it would stop building nuclear power plants anywhere in the world.

“The chapter for us is closed,” Peter Löscher, the chief executive of the Munich-based conglomerate, said in an interview with Der Spiegel, the weekly news magazine. He emphasized the company’s commitment to the rapidly growing renewable energy sector.

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