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Studsvik AB (STO:SVIK) Studsvik has acquired ALARA Engineering AB. ALARA is a nuclear engineering consultancy with customers in the Swedish and Finnish nuclear industry. The acquisition supplements Studsvik's consulting operations and provides new growth opportunities.
Studsvik is meeting growing demand for consulting services from the international nuclear power industry and these services account for a growing share of the Group's sales. The acquisition of ALARA Engineering AB enables Studsvik to offer specialised services such as safety reports, chemical studies, radiological analyses, dismantling studies and advanced modelling and transient analyses using models and calculation tools developed in-house.
"The skills of ALARA, combined with Studsvik's own leading edge competence in consulting as well as materials technology and software, will create new growth potential in a profitable segment. The acquisition also shows that Studsvik is an attractive employer for nuclear specialists," comments Studsvik's CEO Magnus Groth.
ALARA Engineering employes three experienced consultants, who were joint owners of the company. Sales are over SEK 5 million, with good profitability.
"The joint development potential was crucial to our decision to sell. We are looking forward to an exciting transfer of skills, where we can now develop the business as part of Studsvik's organization," says Klas Lundgren, President and one of ALARA's founders.
ALARA Engineering AB will be a part of the segment Global Services.
The parties have agreed not to disclose the purchase price.
For further information: Magnus Groth, President and Chief Executive Officer, tel +46 155 22 10 86 or +46 709 67 70 86 Magnus Arbell, President, Studsvik Nuclear, tel +46 155 22 10 50, or +46 768 69 72 65
Facts about Studsvik Studsvik offers a range of advanced technical services to the international nuclear power industry in such areas as waste treatment, decommissioning, engineering & services, and operating efficiency. The company has 60 years experience of nuclear technology and radiological services. Studsvik is a leading supplier on a rapidly expanding market. The business is conducted through five segments: Sweden, United Kingdom, Germany, USA and Global Services. Studsvik has 1,200 employees in 7 countries and the company's shares are listed on NASDAQ OMX Stockholm.
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