NESL wins funding

5 May 2009

UK service supplier Nuclear Engineering Services Limited has received 'significant' investment from two banks: Lloyds TSB Development Capital and the Co-Operative Bank.

The undisclosed investment "underpins our overall growth and development strategy whilst delivering financial backing to realise our full potential within the nuclear market," a company statement said.

The parent company, Nuclear Engineering (Holdings) Limited was formed in December 2003 when industrial water cutting company Power Jet systems, and other investors, bought Rolls-Royce Nuclear Engineering Services.

The company has contracts from long-term nuclear decommissioning projects, according to a press release from law firm Pinsent Masons, who advised Lloyds TSB on the deal.

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