Energy Solutions buys Nukem subsidiary
28 June 2007
US nuclear services company Energy Solutions has bought US waste management company Nukem Corporation, a subsidiary of Nukem GmbH of Germany, for an undisclosed amount. The deal is expected to be completed early in the third quarter of 2007.
Founded in 1982, Nukem Corporation describes itself as one of the longest continuously operating radioactive waste management companies in the USA. It provides engineering, decommissioning, waste treatment and radioactive material transport services. Based at Columbia, South Carolina, it has about 70 employees at sites across the country.
Energy Solutions was formed in 2006 by the merger of BNG America, Duratek, Envirocare of Utah, and the decontamination and decommissioning division of Scientech, and now lists 12 companies under its corporate umbrella as well as international operations based in Canada, the EU and the UK. It describes itself as "one of the largest providers of services to safely transport, process, and dispose of radioactive materials."
The Nukem Corporation acquisition is the latest in a series of purchases by Energy Solutions. In June 2007, Energy Solutions agreed to buy BNFL's Reactor Sites Management Company, which holds the contracts to operate and decommission ten nuclear sites with 22 reactors in the UK. Other recent acquisitions include Parallax, an environmental clean-up, engineering and management company serving the US nuclear industry, and Safeguard International Solutions, a UK provider of radioactive materials recycling and disposal services to facilities outside the nuclear power sector such as universities, hospitals, industry and government.
Meanwhile Nukem Corporation's parent company, Nukem GmbH, is to focus on its core businesses of fuel cycle services, and the decommissioning, radioactive waste management, engineering and consulting activities of its German subsidiary, mainly targeting western and eastern European and Asian markets.
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