Delays in building new nuclear power stations could be good news for engineering company Weir Group, says its chief executive Keith Cochrane. The Daily Telegraph reports that Weir Group’s boss believes they could benefit from delays in building new nuclear plants because the old plants are likely to need life-extensions.
Mr Cochrane also said the business was likely to benefit from increasing opportunities to service nuclear plants in China. He said, “There has been an acceleration of new build in China and things are also happening on the ground in the U.S.”.
He added, “We are seeing delays in the UK and Europe but that is creating opportunities in maintenance and life extension”.
Mr Cochrane credited “aggressive” gas production in American shale fields for wearing out equipment. He said this led to an increase in demand for Weir Group’s services and products.
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Source: The Daily Telegraph
Tags: business utilities
