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Atkins buys EnergySolutions’ $320m nuclear services division

UK consultant Atkins has acquired the projects, products and technology segment (PP&T) of EnergySolutions, a US nuclear engineering services business with operations in North America, Europe, and Asia.

The $320m deal aims to position Atkins as a nuclear engineer in preparation for the construction of a new generation of power stations in the UK and increasing interest in atomic power around the world.

Uwe Krueger, Atkins’ chief executive, said: "This acquisition accelerates our nuclear strategy and creates a global platform. Our combined business is well positioned in all the major nuclear markets in North America, UK, Europe, Middle East and Asia Pacific."

PP&T has a strong presence in Asia Pacific, a large and fast-growing new-build and decommissioning market. It has 650 employees and last year reported a turnover of $280m.

Atkins has grown revenue from its nuclear business at more than 20% since 2011 and has achieved operating margins of 10%.

Atkins says investment in new-build projects and the decommissioning of ageing assets will present significant opportunities for the broader group. For example, more than 400 current reactors worldwide, nearly 75% are more than 25 years old.

EnergySolutions will retain its logistics, processing and disposal business, its reactor decommissioning business and its North American utility services, including liquid waste processing, fuel pool services, and other commercial projects.

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