AMEC acquires Slovak specialist nuclear services company
22 July 2008
London United Kingdom, (22 July 2008) - AMEC plc, the international engineering and project management company, announces the acquisition of the Slovak specialist nuclear services company AllDeco, s.r.o. (AllDeco) from its owner-managers for a total cash consideration of £11.1 million (€14.0 million). £7.8 million (€9.8 million) was paid at closing, with the balance to be paid over the next three years, subject to the achievement of agreed performance targets.
AllDeco has a leading position in the Central and Eastern European market for nuclear decommissioning and reactor services, which is expected to grow significantly over the next five years. The company has a strong track record in these markets, with specialist expertise in areas including the removal and solidification of highly contaminated waste and the provision of remotely controlled vehicles used in decontamination of decommissioned facilities. AllDeco has principal locations in Slovakia and the Czech Republic and employs 112 nuclear engineers, designers, chemists and operators.
The purchase is consistent with AMEC’s strategy of selective geographic and capacity expansion in the Power and Process division.
Samir Brikho, AMEC Chief Executive said: “This is an excellent acquisition for AMEC. AllDeco will strengthen our capabilities and improve our standing as a leading player in nuclear decommissioning and reactor services in the UK, Europe and around the world. "This acquisition will further strengthen our strong position in the nuclear sector, having been recently named as a member of the consortium appointed preferred bidder in the Sellafield competition.”
Didier Pfleger, Chief Operating Officer of AMEC’s Power and Process division added:
“I am delighted that AllDeco will be joining our nuclear business. With specialist expertise in decommissioning and reactor services and a leading market position in Central and Eastern Europe, AllDeco will significantly enhance our geographic coverage and our ability to provide customers with high value services.”
Dusan Majersky, Managing Director of AllDeco said: “We are pleased to be joining AMEC at a time when the nuclear industry is poised for significant growth. The acquisition will allow us to better serve our clients in Central and Eastern Europe and provides excellent technical and professional opportunities for our employees across AMEC’s nuclear business worldwide.”