Atkins snaps up global nuclear waste remediation specialist
Atkins has bought a US-based global nuclear engineering services business for $318m (拢206m).
The UK-listed engineer today announced it has acquired the projects, products and technology (PP&T) divisions of US firm EnergySolutions.
PP&T specialises in nuclear waste remediation projects and is 650-strong, with a presence in both Japan and China. In the 2014 calendar year PP&T reported revenue of $281.4m and adjusted operating profit of $30.7m.
Atkins said major investment in new build nuclear and ageing existing assets would present 鈥渟ignificant opportunities鈥� for the firm鈥檚 enlarged nuclear business.
Atkins chief executive Professor Dr Uwe Krueger said: 鈥淭his acquisition accelerates our nuclear strategy and creates a global platform. Our combined business is well positioned in all the major nuclear markets in North America, UK, Europe, Middle East and Asia Pacific.
鈥淚n the US, which has the largest nuclear fleet, we are at the top table for decommissioning, site operations, major projects and consultancy.鈥�
The acquisition - which is subject to regulatory approvals in North America - is expected to complete in the first quarter of 2016.
The news comes as Mott MacDonald announced it had ended a major joint venture in North America, Hatch Mott MacDonald (HMM).
HMM is a 3,000 strong business with 77 offices across the United States and Canada. HMM Canada becomes part of Hatch, while HMM in the US will become part of Mott MacDonald.
Keith Howells and John Bianchini, the chief executives of Mott MacDonald and Hatch, said in a joint statement: 鈥淎t a time of significant renewal in North American infrastructure this change allows Hatch and Mott MacDonald and the staff of HMM to build and invest in new ways.鈥�
No comments yet