26 Apr (NucNet): The UK government said it would proceed with the sale of some or all of its one-third stake in Urenco, a major supplier of enriched uranium for the nuclear power industry, as part of a strategy that could see it part with more assets to help reduce its debts.
“Urenco is a world-leading, high technology company with strong earnings and the time is right for government to sell its stake,” business and energy minister Michael Fallon said in a statement.
The government said it had secured agreement for the sale from its Dutch and German partners. The government of the Netherlands also holds a one-third stake in Urenco, and German utilities RWE AG and E. ON share the remainder.
Urenco had a net income of 401.5 million euros (522 million US dollars) from revenue of 1.6 billion euros in 2012, up 12 percent from the previous year, according to its most recent financial statement. The company said it has an order book of more than 18 billion euros extending beyond 2025.
The UK government said Urenco enriches uranium for about 50 customers across 18 countries, giving it about 31 percent of global market share. Based in northwestern England, its main plants are in the UK, Germany, the Netherlands and the US.
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