March 17, 2014

ENERGYSOLUTIONS CONSIDERING SELLING OFF PIECES OF COMPANY

By ExchangeMonitor

With its stock price currently at about $3.40 per share, EnergySolutions is exploring options to sell off a portion of the company, WC Monitor has learned. One candidate for such a move would be EnergySolutions’ government group business unit, which handles the company’s work in the Department of Energy’s cleanup program. In a written response yesterday, EnergySolutions spokesman Mark Walker said: “While EnergySolutions does not normally comment on rumors floating around the industry, we can say that EnergySolutions has not offered the government group for sale.”

Among EnergySolutions’ major cleanup projects is the Hanford tank farms, where it is part of URS-led Washington River Protection Solutions; and Isotek, which is responsible for the uranium-233 disposition project at Oak Ridge. It remains unclear when any potential sale would take place, if at all. Such a sale likely would not include EnergySolutions’ radioactive waste disposal site at Clive, Utah, because of associated long-term liabilities and the disposal site’s connection to EnergySolutions Zion commercial nuclear power plant decommissioning project.

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