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    MNM Service What is it? Latest Edition Search Archive
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AEA moves into Canada Source: FT - Peter Thal Larsen Contributed by Peter Roberts and Aristide Mbiock IJmuiden, NL, 5th July, 1999 - Ref.: 9907art05 Last week the FT reported that "AEA Technology, the UK science and engineering services group, has moved into the Canadian market through a deal with publicly-owned Ontario Power Generation." AEA is a member of British Flame - BFRC. The FT indicated that "A consortium in which AEA has a controlling stake has won a contract to manage Ontario Power Technologies, OPG's technical support and research and development department. As part of the deal the consortium, known as C-SAT Technologies, will take a 10 per cent stake in OPT and have an option to buy up to 50 per cent at the end of the 30-month contract. The deal marks a first small step in the privatisation of Ontario Hydro, the utility which was split into two in April. Last year the utility suspended talks with British Energy, the UK nuclear power generator, about forming a joint venture to operate Ontario's nuclear power stations. The move will give AEA control of OPT's 400 staff and provide the company with a foothold from which it can expand into the North American power market by targeting other customers. Peter Watson, AEA's chief executive, said: "This is a good first step into what is a very important nuclear market."
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