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Engie acquires Suez's nuclear maintenance business

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Engie acquires Suez's nuclear maintenance business

Engie SA subsidiary Endel SAS acquired Suez SA's nuclear maintenance activity business, SRA SAVAC SA, for undisclosed terms.

The newly acquired business will change its name to Endel SRA, according to a Jan. 9 news release.

Based in Vaulx-en-Velin, France, the nuclear maintenance activity business provides services for primary and secondary circuits of nuclear power plants. It reached a turnover of €28 million in 2017, €4 million of which was generated abroad.

The acquisition will enable Endel to extend its presence in France and open up new prospects in other countries as well as supplement the added-value services it provides for major components in power plants, according to the company.

The transaction is also in line with Suez's strategy to focus on waste recycling and recovery in France.

In December 2018, Engie confirmed plans to remain a major shareholder and maintain its 32% ownership interest in Suez.