By Ed Ballard
LONDON--Rolls-Royce Holdings PLC (RR.LN) said Tuesday it has
agreed to cooperate more closely with China's State Nuclear Power
Technology Corporation on civil nuclear power in the U.K. and
overseas.
Under a new memorandum of understanding, the London-based
engineer will explore potential areas of collaboration such as
engineering support, supply chain management, and control
technology with SNPTC, China's state-owned developer of nuclear
reactors.
"China represents one of the world's largest civil nuclear
markets in which Rolls-Royce has been supplying safety-critical
technology and solutions for 20 years," said Jason Smith, president
of Rolls-Royce's nuclear arm. "I am proud that we have built a
partnership with SNPTC based on mutual trust," he added.
Rolls-Royce, best known as a maker of jet engines, supplies
instrumentation and control technology to more than 70% of China's
nuclear reactors and backup generators to almost 40%, the company
said.
Shares were up 0.7% at 270 pence at 1139 GMT in London.
Write to Ed Ballard at ed.ballard@wsj.com
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