Kobe Steel, & Studsvik to establish JV Company focused on Japanese Nuclear Waste Management (US)

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Studsvik (STO:SVIK) and Kobe Steel, Ltd have today announced the creation of a new Japanese joint venture (“KOBELCO STUDSVIK Co. Ltd.”) company focused on delivering design, engineering and implementation to provide radioactive waste management solutions to the Japanese nuclear industry. A Japanese company, with shareholding of 51 % Kobe Steel and 49 % Studsvik, will be formed to carry out the joint venture’s business. The joint venture will bring together Studsvik’s broad design and engineering experience in waste management, including its patented THOR technology for radioactive waste treatment, and metal recycling along with Kobe Steel’s industrial and delivery capability in Japan. Kobe Steel has, as a major industrial organisation, supported the Japanese nuclear industry over many decades, and recent successful projects include building and implementing a new waste incinerator to support waste management at Fukushima Daichi. Studsvik and Kobe Steel have worked together for many years to develop the Japanese waste management market. The joint venture will significantly enhance the delivery capability and commitment of both companies to implement a range of waste management solutions, and the design and implementation of waste treatment and metal recycling facilities for the Japanese nuclear industry.

“Studsvik is motivated by the prospects for growth in the Japanese nuclear waste management market, and we are delighted to be able to strengthen our long-standing relationship with Kobe Steel through this joint venture to enhance Studsvik’s delivery of its experience and technology to the Japanese market. Our joint venture represents a clear demonstration of Studsvik’s strategy to grow profitably in areas where we are technical leaders, and we look forward to realising a number of exciting opportunities for Studsvik and our partner Kobe Steel,” said Studsvik CEO Michael Mononen.

“One of the themes under our medium-term management plan to fiscal 2020 is to undertake further initiatives in the waste treatment business in connection with the decommissioning of nuclear plants”, said Shohei Manabe, Director and Senior Executive Officer at Kobe Steel. “The enhanced synergy from the joint venture with Studsvik will be a sincere response to provide solutions for the treatment and disposal of radioactive waste from decommissioned nuclear plants including the treatment and recycling of metals. At the same time, this undertaking will also contribute significantly to social sustainability,” said Manabe.

Facts about Studsvik

Studsvik offers a range of advanced technical services to the international nuclear power industry in such areas as consultancy services, and fuel and materials technology. The company has over 65 years experience of nuclear technology and radiological services. Studsvik has 700 employees in 7 countries and the company’s shares are listed on the Nasdaq Stockholm.

Studsvik is publishing this information pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The Information was released for public disclosure on April 25, 2016 at 08:45 AM CET.

www.studsvik.com

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Contacts

Studsvik
Michael Mononen, CEO
telephone +46 155 22 10 86
or
Pål Jarness, CFO
telephone +46 155 22 10 09

Posted in Strategy.

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