Nukem Technologies now owned by ASE

15 December 2009

Russia's AtomStroyExport (ASE) has completed its purchase of the Nukem Technologies subsidiary of Germany's Nukem. The two companies signed a contract in August regarding the sale of the business, which specialises in decommissioning, waste management and engineering services. The details of the transaction have not been disclosed but ASE - part of the Russian nuclear energy corporation Rosatom - and Nukem have now signed a protocol finalizing the deal and passing on ownership of Nukem Technologies. Ulf Kutscher, managing director of Nukem Technologies, commented, "With AtomStroyExport we have a strategic investor, who perfectly understands our business and will develop it further." In a statement, ASE said: "The acquisition of Nukem Technologies GmbH greatly enhances and complements the engineering capabilities of AtomStroyExport necessary for the successful implementation of national programs for the nuclear industry in virtually every country - from the decommissioning of existing plants to building new facilities on the basis of the most advanced Russian and European technologies." Nukem will now concentrate on its core business, the supply of nuclear fuel services.