Goodbye to AEA

29 November 2000

AEA Technology is getting out of the nuclear industry. The engineering side could be sold within the month, according to chairman Anthony Cleaver.

Cleaver wants to slim the group’s portfolio, and concentrate on rail, environment and its future technolgies start ups. The company earned £70 million in the first half of this year, but Cleaver said: “Nuclear is a mature market and we do not see opportunities for significant growth as we do elsewhere. It is not a vote of no confidence, it is just a realistic response to what has been happening over the last few years.” It is thought likely that BNFL or Siemens could be potential bidders.

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