Nuclear Engineering Services bought for €36m
Italy’s Ansaldo Nucleare is to acquire Woverhampton-based Nuclear Engineering Services (NES) in a deal valued at around €36m.
Ansaldo Nucleare, a subsidiary of Ansaldo Energia (AEN), specialises in nuclear component design and engineering services for clients in new power plant construction, decommissioning and waste management sectors.
The acquisition is said to form part of the framework of developments announced by Fondo Strategico Italiano for Ansaldo Energia Group at the time of the sale of 40 per cent of AEN to Shanghai Electric (SEC), along with the creation of two joint ventures between AEN and SEC to produce gas turbines for Asian markets and the development of an R&D centre in Shanghai.
The deal with NES will enable Ansaldo Nucleare to offer a broader range of services to meet the needs of international markets, not least in the UK where prospects are extremely promising, through extended capabilities in the decommissioning and new build nuclear plant sectors.
NES is currently undertaking a range of projects for the nuclear power industry and the defence sector and is also engaged in the design, construction and commissioning of three large and highly complex silo emptying plants for remote material extraction at the Sellafield site.
Ansaldo Nucleare, which has a presence in new build projects - it built the only reactor to enter service in Europe in the last 10 years and was a supplier for the first AP1000 in China - is presently working in Argentina on safety upgrade and plant life extension (PLEX) projects and in Italy on the country’s decommissioning programme.