EnergySolutions Signs Definitive Purchase Agreement to Acquire Duratek, Inc.; Duratek Brings Innovative Technologies and Expertise in Waste Characterization and Waste Minimization to EnergySolutions.WASHINGTON -- EnergySolutions, a national energy services company, today announced that it has agreed to acquire Duratek, Inc. Duratek will bring complementary innovation in technologies and services to EnergySolutions in the areas of waste characterization and waste minimization. Upon completion of the acquisition, EnergySolutions will manage over 2000 employees in 40 states and internationally. "We are creating a U.S.-owned nuclear services company working in all aspects of the nuclear fuel cycle Nuclear fuel cycle The nuclear fuel cycle typically involves the following steps: (1) finding and mining the uranium ore; (2) refining the uranium from other elements; (3) enriching the uranium-235 content to 3–5%; (4) fabricating fuel elements; (5) , which will bring improved operational efficiencies to our customers and better serve the needs of the government and industry in the nuclear waste management process," said Steve Creamer, President and Chief Executive Officer of EnergySolutions. "It is important that the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. keeps pace with France, Britain and Japan in developing supporting technologies, services and solutions for the nuclear industry as our country looks towards new energy assets." "Duratek has been a leader in providing services and technologies for nuclear materials management Materials management is the branch of logistics that deals with the tangible components of a supply chain. Specifically, this covers the acquisition of spare parts and replacements, quality control of purchasing and ordering such parts, and the standards involved in ordering, and radioactive waste radioactive waste, material containing the unusable radioactive byproducts of the scientific, military, and industrial applications of nuclear energy. Since its radioactivity presents a serious health hazard (see radiation sickness), disposing of such material is a disposition for the past 20 years," said Dr. Prince, Chief Executive Officer of Duratek. "We are grateful to our many stockholders who have been with us as we pursue our long-term strategic objectives to continually expand the range of innovative solutions and services we offer to the nuclear industry. By becoming part of EnergySolutions, we believe we can enhance the achievement of these objectives for the benefit of our customers, our employees, and the communities they serve." Nuclear byproduct by·prod·uct or by-prod·uct n. 1. Something produced in the making of something else. 2. A secondary result; a side effect. Noun 1. waste is generated in various ways from highly sophisticated government activities, including the Department of Energy and the Department of Defense, along with everyday activities including medical treatments, the development of many widely used prescription drugs prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, , certain types of smoke detectors smoke detector n. An alarm device that automatically detects the presence of smoke. Also called smoke alarm. , and self-illuminating exit signs. The transaction is subject to regulatory approval and other customary closing conditions contained in the definitive purchase agreement. About EnergySolutions EnergySolutions provides services and solutions to the nuclear energy industry. The company has the technical expertise and state-of-the-art resources to safely and responsibly handle the nuclear waste management process. The company utilizes its resources to drive technological innovation and solutions. EnergySolutions is headquartered in Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. and upon completion of this acquisition, will manage over 2000 employees in 40 states and internationally. EnergySolutions is owned by a private equity group led by Lindsay, Goldberg & Bessemer, Peterson Partners and Creamer Investments. For more information please visit our website at http://www.EnergySolutions.com. |
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