Areva’s restructuring plans to be finalized by Sep 2011

KOLKATA: Areva T&D India has announced today that its parting plans to separate its transmission and distribution business will be soon finalized in between June and September 2011.

"Currently, there is discussion on separating the entity into a new structure, where the transmission business would go to Alstom Group and transmission to Schneider Electric in line with the global acquisition (of Areva by the two parties)”, said, Rathin Basu, Country President and Managing Director, Areva T&D India.

Basu said that the final decisions regarding the separation plans will be taken by Areva’s board of directors during February meeting and the final arrangements will be made by September 2011.