David Wighton, Business Editor's commentary
Win a £1500 Raymond Weil watch
Sir John Rose thinks he has a secret weapon. For 50 years Rolls-Royce has kept its nuclear business - building and repairing nuclear reactors for Royal Navy submarines - remarkably quiet. Yesterday, it finally surfaced.
Sir John says he wants to apply Rolls's little-known nuclear skills to the construction of a new generation of civil nuclear power stations - both in the UK and overseas. It sounds like a sensible idea.
With Britain, China, India, the US, South Africa and others all embarking on big new programmes to build reactors, the emerging market is vast.
The World Nuclear Association believes that in the decade after 2015, a new 1,000 megawatt reactor could be completed every five days.
Leaving aside the question of whether or not this is a good thing, Rolls is one of the few large UK companies with the expertise to benefit from it commercially.
There has been such a long hiatus in the construction of large numbers of nuclear plants that there is now a big opportunity to claim a chunk of the new global supply chain.
Sir John is right to try to seize this opportunity for UK plc. Others would be wise to follow.
Rolls also has a surprising new cheerleader for this push into civil nuclear technology.
Having spent much of the past decade overseeing the carve-up and sale of what remained of Britain's once vibrant nuclear industry, the Government has suddenly become its biggest fan.
It fears the UK's nuclear construction effort could be stitched up by French or US companies and would favour the involvement of British companies such as Rolls.
The Government also sees opportunities to export nuclear skills to the Middle East and Asia, thereby creating British jobs and improving its rapidly diminishing reputation as a nation of engineers.
Of course, for Rolls the timing of all this could be useful for an entirely different reason.
Was it pure coincidence that Sir John chose to make the announcement the same week as the grimmest Farnborough Air Show anyone can remember, with orders for new aircraft plunging amid the soaring price of oil?
Perhaps so. Rolls must take care it does not get distracted from its core business. But civil nuclear could prove a good sideline in what is likely to be a few lean years ahead in the market for new jet engines.
Industry sectors news at a glance. Interactive heatmap, video and podcast
Everything the Business Traveller needs to know to make a better trip
Get ready for the winter sports season, with our resort guides and snow reports
We are backing British business, what is the confidence of the nation and what businesses are succeeding?
Growing demand for energy, oil that is harder to reach and the rise of carbon dioxide emissions. We examine the energy challenge
With rail travel in Europe on the rise, we review the benefits of travelling by train
In this special section we explore new food trends to help improve your dinner party and impress guests
Enjoy further reading from Travel to Fashion, Business to Sport, discover more
1998
£47,955
12 months for the price of 11 and a 5% discount.
Offer ends 31/11/09
Check your free Experian credit report before applying
Car Insurance
£100,000
Barnardos
UK
PwC’s Consulting practice helps businesses of all shapes and sizes work smarter and grow faster
PwC
£37,000
Department for Culture, Media and Sport
London
Currently £36,285
Department for Culture, Media and Sport
London
Moments from Battersea Park.
For sale with Winkworth
Find out about shared ownership.
See your free Experian credit report beforehand
Includes flights, accommodation with room upgrades, transfers city tours in Hong Kong and Bangkok.
PremierHolidays.co.uk
For your ultimate tailor-made ski holiday, click here
Get covered on your travels with a superb range of policies at great prices. Visit InsureandGo.com
World Class Golf, Spa and preferential Beach Club. Private estate overlooking West Coast
Villas from £275 per night inclusive of Golf
Contact our advertising team for advertising and sponsorship in Times Online, The Times and The Sunday Times, or place your advertisement.
Times Online Services: Dating | Jobs | Property Search | Used Cars | Holidays | Births, Marriages, Deaths | Subscriptions | E-paper
News International associated websites: Globrix Property Search | Milkround
Copyright 2009 Times Newspapers Ltd.
This service is provided on Times Newspapers' standard Terms and Conditions. Please read our Privacy Policy.To inquire about a licence to reproduce material from Times Online, The Times or The Sunday Times, click here.This website is published by a member of the News International Group. News International Limited, 1 Virginia St, London E98 1XY, is the holding company for the News International group and is registered in England No 81701. VAT number GB 243 8054 69.