Studsvik has agreed to sell its waste treatment business and facilities in Sweden and the UK to EDF Développment Environnement SA, a subsidiary of EDF. As part of the sale process they have also agreed to join forces to collaborate in the areas of nuclear decommissioning and waste management.
The Waste Treatment business is world leading in low level radioactive waste treatment, with a strong customer base in Europe. It provides safe and environmentally friendly services to nuclear and other customers generating low level radioactive waste in order to minimize the impact on health and environment. The waste is either recycled, free released or volume reduced and returned to the customer for final storage.
The scope of the transaction includes Studsvik’s waste treatment assets and facilities situated at the Studsvik site, near Nyköping in Sweden, and the Metal Recycling Facility near Workington in the UK. EDF, as a world leading French power company majority owned by the French Government, will develop the Waste Treatment business, and ensure that it will continue to play a critical role for Swedish and other nuclear operators in Europe. This will safeguard the skills and competencies at the Swedish and UK sites and support local employment.
The Transaction is subject to the granting of necessary licenses and permits by the relevant authorities in relation to the Waste Treatment business to be divested. The companies expect to finalise the sale in the third quarter of 2016.
Commenting on the deal Michael Mononen, Chief Executive of Studsvik, said, “The divestment of the waste treatment business and the cooperation agreement with EDF position Studsvik for growth, building on a more stable and focused business platform. We will continue develop our fuel and materials technology, and consultancy businesses, not only in our home markets of Sweden, UK, Germany, USA and Japan, where many of our customers are preparing to decommission, but also in growing nuclear markets in Asia and the Middle East. The transaction allows us to capitalise on our unique experience and capabilities and focus on delivering increased value for our customers and shareholders.”