Babcock beefs up nuclear business

2nd Nov 2009 07:14

Support services firm Babcock has bought nuclear site management UKAEA from the United Kingdom Atomic Energy Authority.Babcock has paid £38m for UKAEA, a company which generated £32m of revenue in the year to 31 March 2009. UKAEA has more than 50 years of experience in nuclear site management, operations and decommissioning, and will be integrated into Babcock’s nuclear division.‘Babcock has an excellent track record of integrating acquisitions in the nuclear spectrum to deliver high levels of shareholder value. We are confident that with UKAEA we will continue to build on this success,’ said Babcock’s chief executive, Peter Rogers.