Canadian government officials expect to complete negotiations by year-end with potential buyers of Atomic Energy of Canada Ltd., the national corporation that manages the country’s nuclear-energy research program, including its CANDU reactor technology. Controlling costs and positioning Canada’s nuclear industry to “seize domestic and global opportunities” are factors driving the sale, says a government spokesperson. Officials decline to disclose names of potential purchasers, but Montreal-based SNC-Lavalin confirms it is one of the bidders. A spokeswoman said a successful bid would allow the firm to expand its sector work from refurbishing facilities, but she declined to elaborate. Despite laudatory reviews, AECL has lost money every year since its creation in the early 1950s, says Tom Adams, a Toronto energy consultant who monitors the nuclear industry and has been critical of AECL’s performance.
SNC-Lavalin Is Among Bidders For Canada’s National R&D Firm
October 6, 2010