A consortium led by
) recently received a five-year extension contract from the UK
Nuclear Decommissioning Authority (NDA) for the management and
operation of the Sellafield nuclear complex in West Cumbria, UK.
The contract's annual budget is about $2.9 billion. The
consortium, Nuclear Management Partners Ltd. (NMP), comprises
three international firms - URS, Areva and Amec Plc.
The contract extension engages the engineering, construction
and technical services provider URS-led consortium as the Parent
Body Organization. The consortium will be responsible for taking
the strategic decisions.
NDA expects NMP to safely accelerate the cleaning up of
Sellafield, one of the most challenging and hazardous nuclear
sites in Europe. Apart from waste management and commercial
operations, NMP will be accountable for the core services
including initiating the new construction and managing
decontamination and decommissioning the old plants at the
The contract was awarded in Nov 2008 with a five-year base
period, extendable up to 17 years. NMP has successfully managed
the operations of the waste storage facilities to date. NMP has
achieved high levels of safety by stabilizing the highly
dangerous facilities and taking cost saving initiatives while
saving time by being ahead of schedule in cleaning up and
retrieving the waste.
The renewed contract requires NMP to continue operating the
waste reprocessing and storing facilities at Sellafield along
with an engineering design center in Cheshire and two former
nuclear stations: Calder Hall and Windscale in West Cumbria.
URS provides a wide range of construction management and
technical services for several industries including
manufacturing, chemical, pharmaceutical, mining and others. The
company excels in providing core services that include everything
from engineering roads and harbor to risk management for military
weapons systems. The company services government entities as well
as private and institutional clients.
URS currently has a Zacks Rank #3 (Hold). Other stocks worth
considering at the moment are
Michael Baker Corp.
Foster Wheeler AG
). Michael Baker carries a Zacks Rank #1 (Strong Buy), whereas
ITT Corp and Foster Wheeler both carry Zacks Rank #2 (Buy).
BAKER (MICHAEL) (BKR): Free Stock Analysis
FOSTER WHELR AG (FWLT): Free Stock Analysis
ITT CORP (ITT): Free Stock Analysis Report
URS CORP (URS): Free Stock Analysis Report
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