Czech energy group CEZ has become the 100% owner of Škoda JS, which previously belonged to Russian engineering group OMZ, controlled by Gazprombank. With the purchase, CEZ said it had solved the problem of its major supplier, which was at risk of anti-Russian sanctions. The agreement was concluded in June this with the shares temporarily held by Wood & Company pending the antitrust authorities' transaction approval. The transaction was approved by four antitrust authorities in the Czech Republic, Hungary, Slovakia and Ukraine, CEZ said.
“Škoda JS is our key supplier and by gaining control of this company we have significantly strengthened our energy security. The antitrust proceedings were not easy, especially in view of the state of war in Ukraine. We are pleased that we have successfully completed the transaction," said Bohdan Zronek, Director of the CEZ Nuclear Power Division.
Škoda JS is an original Czech company and supplier of key components of nuclear parts for a number of power plants with domestic employees and unique domestic know-how, with which CEZ has been cooperating for a long time, especially in the field of nuclear fuel and primary circuit maintenance of nuclear power plants. Together with Škoda JS (including 100% shares in company Middle Estates), CEZ will also acquire further shares in the scientific research facility ÚJV Rež, which Škoda JS currently owns. The CEZ Group's ÚJV Rež shareholding will therefore increase from 52.46% to 69.85%.
Škoda JS is one of Europe's leading engineering and manufacturing companies with experience in the construction and servicing of NPPs. The original company was founded in 1859, and it current activity began in 1956. Over the course of its existence, the company has supplied complete industrial plants, equipment and services for NPPs, research reactors and storage facilities for used nuclear fuel in Central and Eastern Europe, Scandinavia, France, Germany, USA, Austria, Finland, Belgium, China, Armenia and other countries.
Škoda JS has manufactured and delivered 21 complete VVER 440 and three VVER 1000 nuclear reactors. Since the 1990s, it has also focused on Western markets and technologies. The company achieves annual sales of around CZK3.5–4 billion $148-170bn). Nearly half of its sales are in equipment and service export. It employs over 1,000 highly-qualified professionals.
Image: A fully automated nut tensioner for a reactor pressure vessel main flange joint (courtesy of Škoda JS)
