Orano Signs an Agreement With Daher to Acquire Its Nuclear Activities in Germany and North America

PARIS--(BUSINESS WIRE)--Regulatory News:

The Orano Group and the Daher Group have signed on Thursday March, 4^th an agreement for the acquisition by Orano Nuclear Packages and Services (“Orano NPS”) of Daher’s German nuclear activities (Daher Nuclear Technologies Gmbh - “DNT”) and of its North American subsidiary (TLI Inc. - “TLI”).

This project is part of the Orano Group's strategy to strengthen its competencies in its core business. The entities involved in this transaction will benefit from additional know-how and an extended geographical footprint, in Germany and the United States. DNT and its subsidiary TLI, which have a proven expertise in the transport of nuclear materials and packaging engineering, employ together c. 100 employees based in Germany (Hanau and Leese) and in the United States (Fulton, Maryland and Kevil, Kentucky). In Germany, DNT's teams have specific skills in rail transport organization and waste storage.

Orano NPS will benefit from extended range of products and services in transport and engineering, particularly in the Front End of the nuclear fuel cycle. With c. 1,000 employees worldwide, it will be able to reinforce the relationship with its main customers.

With this second acquisition in less than a year, the Orano Group continues to make targeted acquisitions. It confirms its leading role with stakeholders in the nuclear industry, which remains the main source of low-carbon energy in Europe and the United States.

The completion of this transaction remains subject to the customary authorizations, in particular with regard to foreign investments and merger control/anti-trust laws.

Frédéric de Agostini, President of Orano NPS said, “We are happy to start a new cycle of growth with our German and American colleagues from DNT and TLI. The joint mobilization of teams offers attractive prospects and these new establishments will enable us to strengthen our international presence, in particular with our European and American customers.”

Olaf Oldiges, Managing Director of Daher Nuclear Technologies: “As a specialist in nuclear fuel logistics, we are delighted to be joining forces with a global player in the nuclear industry like Orano. The teams at DNT will now be able to leverage the experience and expertise developed in Europe and the US as part of Orano NPS.”