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ABB to sell nuclear business to BNFL
Radsafers, I think that the message below is what was lost 3-4 days ago. For
a more complete story, see http://www.abb.com/
Bjorn Cedervall bcradsafers@hotmail.com
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Zurich, Switzerland, December 29, 1999 - ABB, the global technology group,
and nuclear technology company BNFL today announced that BNFL will purchase
ABB's nuclear power businesses. The value of the transaction is US$ 485
million. The sale is subject to the customary regulatory approvals.
Under the terms of the agreement, U.K.-based BNFL will purchase ABB's
worldwide nuclear systems businesses, headquartered in the United States in
Windsor, Connecticut. Apart from the U.S., ABB's main nuclear operations are
in Sweden, France, and Germany. The divested businesses also include nuclear
control systems. In total, the divested businesses employ about 3,000 people
and reported revenues in 1998 of about US$ 500 million.
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