BNFL to buy US nuclear reprocessor in $1bn deal

Article Abstract:

State-owned British Nuclear Fuels (BNFL) has announced that it is to buy a large stake in the US CBS Westinghouse. The deal, which is worth US$ 1bn will make BNFL the largest nuclear reprocessor worldwide. CBS is now free to concentrate upon its media divisions. Through the deal BNFL will acquire all become a major supplier to the US government. There has been some speculation that the UK company will now be privatised, but there has been no confirmation of this, and it is up to the government, which owns BNFL, to make comments about such an issue. BNFL is one of the largest employers in the US and is also one of the most significant companies and now holds US$ 2bn worth of contracts for the maintenance and cleaning and management of nuclear weapons sites.

Comment:

Will buy large stake in CBS Westinghouse for $1 bil that will make former largest nuclear reprocessor worldwide

Reprocessed Nuclear Fuel Products, British Nuclear Fuels PLC, Fuel reprocessing (Nuclear reactors)

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Go-ahead given for BNFL US$ 1.2bn US nucleardeal

Article Abstract:

The Treasury has granted permission to nuclear waste processing company BNFL to bid for the nuclear activities of US-based Westinghouse which includes assuming Westinghouse's liabilities, 10% of which relate to nuclear activity. Under the deal BNFL and Morrison Knudsen, its US partner, will pay US$ 238mn for Westinghouse's nuclear business of which BNFL will provide US$ 70mn of the cash price. it will gain a 340% share of the business but take on US$ 900mn of the total US$ 930mn liabilities. BNFL will run the energy systems business with Morrison Knudsen overseeing US military work. The two will run clean-up and decommissioning activities jointly.

Comment:

Has been granted permission by Treasury to bid for the nuclear activities of US-based Westinghouse, US

Nuclear Wastes, BNFL

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