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UK and Canada try to revive UK nuclear! Privatising nuclear fuel production!

….Bidders are lining up for for Urenco’s privatisation, which could put £4bn in the UK chancellor’s coffers….

…The newspaper said that Areva was holding talks with private equity firms including Apax and CVC, regarding a possible joint offer for Urenco, and that Morgan Stanley had been appointed to handle the sale, with a float also a possibility….

…..SNC-Lavalin is part of this trade mission too. In June, 2012 it made a short list for a contract to build two to four new reactors that would use some of the spent fuel from the U.K.’s current fleet of nuclear power plants…..

“So you add up all these factors and it really doesn’t look like there is likely to be a long-term future for CANDU.”

Canada Pension Plan eyes nuclear fuel producer Urenco: paper

LONDON | Sun Mar 17, 2013 10:26am EDT

http://www.reuters.com/article/2013/03/17/us-canadapensionplan-urenco-idUSBRE92G08G20130317

(Reuters) – The Canada Pension Plan Investment Board (CPPIB), one of the world’s biggest pension funds, could be interested in bidding for nuclear fuel producer Urenco, the Sunday Times reported without citing sources.

CPPIB, which manages Canada’s national pension fund, declined to comment on the article.

The Dutch government, which co-owns Urenco with the British government and German utilities RWE (RWEG.DE) and E.ON (EONGn.DE), has now dropped its opposition to a sale of the firm, the Sunday Times also reported, citing sources close to the talks.

Cameco (CCO.TO), a Canadian uranium producer, is also weighing an offer for Urenco, said the Sunday Times. Sources told Reuters in January that France’s Areva (AREVA.PA) and Japan’s Toshiba Corp (6502.T) were considering bids for the company.

The newspaper said that Areva was holding talks with private equity firms including Apax and CVC, regarding a possible joint offer for Urenco, and that Morgan Stanley had been appointed to handle the sale, with a float also a possibility.

Analysts estimate that the Buckinghamshire, UK-based uranium enrichment firm is worth between 2.5 billion euros and 3.6 billion euros ($3.27 billion to $4.70 billion), but some of the sellers are hoping for as much as 12 billion euros.

Urenco and Areva were not immediately available for comment. ($1 = 0.7654 euros)

(Reporting by Sarah Young; Editing by Alison Birrane)

http://www.reuters.com/article/2013/03/17/us-canadapensionplan-urenco-idUSBRE92G08G20130317

Canadian nuclear suppliers make sales pitches in U.K.

First trade mission to a country that has never built a CANDU reactor!

By Susan Lunn, CBC News

Posted: Mar 15, 2013 5:02 PM ET

Canadian nuclear suppliers are undertaking a trade mission to the United Kingdom next week.

Ten companies that supply parts and services to CANDU reactors are hoping to pick up some of the work that’s being created as Britain expands its nuclear program.

The Organization of Canadian Nuclear Industries represents almost 200 companies and about 30,000 workers that supply parts and services to the CANDU fleet of reactors.

The organization has held trade missions in the past to Romania and Argentina. But this week marks the first time it has gone to a country that has never built a CANDU reactor.

President Ron Oberth says with the recent expansion of the nuclear industry in Britain, many of the companies in the U.K. supply chain are new.

Beyond CANDU

Ron Oberth is president of the Organization of Canadian Nuclear Industries.Ron Oberth is president of the Organization of Canadian Nuclear Industries. (NuclearLeaders.com)He’s hoping this week Canadian companies can market expertise they’ve gained from working with the CANDU reactors over the past two decades.

“Those are capabilities that we bring that we acquired through our work in the CANDU industry. We now want to broaden out into other non-CANDU programs in countries like China, the U.S. and the U.K. in particular,” Oberth said before leaving for London.

Oberth says it’s not that the supply chain is separating itself from the CANDU brand, but it wants to create new markets, beyond that one type of reactor design.

“Other than the reactor core itself, there are many similar features, similar types of equipment valves and pumps and piping and consensers. Those are common across all reactor types,” Oberth said.

“So while we want to emphasize the uniqueness of CANDU we also want to emphasize the fact that having capability in the CANDU field well qualifies us to supply other types of reactors as well.”

That’s a smart move, according to energy analyst and commentator Tom Adams. He argues the CANDU brand is in trouble.

“The worldwide CANDU fleet is a small fleet of aging reactors. There are many of them shutting down. So the fleet is shrinking. The federal government’s support in Canada, that was the lifeblood for that industry, is drying up. SNC-Lavalin, the new custodian for the brand, is itself battling for its own survival,” Adams said.

“So you add up all these factors and it really doesn’t look like there is likely to be a long-term future for CANDU.”

U.K. building reactors

SNC-Lavalin is part of this trade mission too. In June, 2012 it made a short list for a contract to build two to four new reactors that would use some of the spent fuel from the U.K.’s current fleet of nuclear power plants.

Adams doubts whether this trade mission will impact the outcome of that bidding process.

Oberth said while his organization hopes CANDU will be successful, it won’t happen for some time.

“The main reason for our visit is to look at the expanding opportunities across a number of sites in the UK for reactors, that would be provided by other vendors than CANDU.”

The Organization of Canadian Nuclear Industries will attend a one-day workshop put on by the Canadian High Commission on Monday, before attending a two-day U.K. Nuclear Conference and Trade show.

The members then visit the Nuclear Advanced Manufacturing Research Centre in Sheffield before traveling on to Sellafield to visit the nuclear fuel recycle and nuclear waste management centre there.

http://www.cbc.ca/news/business/story/2013/03/15/nukesalespitch.html

Dutch clear way for nuclear sale

Urenco, which makes fuel for nuclear power stations, has four plants in Europe

Urenco, which makes fuel for nuclear power stations, has four plants in Europe

Bidders are lining up for for Urenco’s privatisation, which could put £4bn in the chancellor’s coffers

HOLLAND has dropped its historic opposition to a sale of Urenco, clearing the way for a full privatisation of the state-backed nuclear fuel maker.

The sudden change of heart came after several rounds of intergovernmental talks over the future of Urenco, which is owned by the governments of Britain and Holland and two German utility companies.

The British and Germans were planning to press ahead with selling their stakes this year, but the Dutch had held back because of fears about security.

Sources close to the talks said the Dutch had now agreed to a sale, provided strict controls on the company, including a golden share to be held by the governments, were put in place……..

http://www.thesundaytimes.co.uk/sto/business/Industry/article1230770.ece

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March 18, 2013 - Posted by | Uncategorized

3 Comments »

  1. […] UK and Canada try to revive UK nuclear! Privatising nuclear fuel production! https://nuclear-news.net/2013/03/18/43219/ […]

    Pingback by UK New nuclear power station gets planning consent – Hinckley « nuclear-news | March 19, 2013 | Reply


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