| Babcock International buys the commercial arm of the UKAEA | | Print | |
| Friday, 18 September 2009 | |
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The government has today agreed the £50million sale of the UK Atomic Energy Authority’s commercial arm to engineering firm and NIA member Babcock International Group. The sale follows an announcement in March that the government was seeking a buyer for UKAEA Limited, who provide nuclear decommissioning and waste management services. The Nuclear Industry Association believes that the move will benefit the sector as it continues towards private investment. Chief Executive Keith Parker, points out that the deal demonstrates the strength of the UK nuclear industry during the recession. ‘The sector is moving in an exciting direction as it continues to attract significant investment opportunities for private companies. Babcock International is a British company with a track record of success in the industry and we are certain that the UK’s nuclear heritage is in the right hands.’ Business Secretary Lord Mandelson also claimed that it is “good news for UKAEA Limited and its employees. It will allow the company, as part of Babcock International, to continue its development and take advantage of new opportunities in the nuclear industry.’ The deal is hoped to provide good value to the taxpayer as it is the first deal carried out under the Government’s Operational Efficiency Programme (OEP). This initiative was set up last year and aims to ensure more efficient and commercial use of public assets, and provide a platform for the further development of skills in a sector the government acknowledges as an ‘important marketplace’ Comments (0)
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