(By Balaseshan) EnergySolutions Inc. (NYSE:ES), a provider of nuclear services to government and commercial customers, said it is considering the sale of its UK and European business.
The Salt Lake City, Utah-based company said the UK and European business holds a contract with the Nuclear Decommissioning Authority to manage and operate 22 of the UK's Magnox nuclear reactor fleet.
The company's UK and European business acquired the current Magnox contract in June 2007. The Nuclear Decommissioning Authority has raised no objections to the sale consideration which would be evaluated quickly and efficiently.
EnergySolutions said it is considering a number of proposals and transaction structures.
Chief Executive David Lockwood said the company is evaluating these alternatives in the best interests of its shareholders, customers and employees.
The company's range of nuclear services includes engineering, in-plant support services, spent nuclear fuel management, decontamination and decommissioning (D&D), operation of nuclear reactors, logistics, transportation, processing and low-level radioactive waste (LLRW) disposal.
ES is trading up 4.91% at $1.71 on Tuesday. The stock has been trading between $1.43 and $5.43 for the past 52 weeks.