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State-owned BNFL set to fold in 2007

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The state owned nuclear group BNFL looks set to be wound-up at the end of 2007, following the sale of its clean-up activities and its Westinghouse business.
Westinghouse, has been sold to Toshiba in a £2.9bn deal. BNG, the decommissioning business that operates 14 nuclear sites in the UK and is also responsible for Sellafield, is in the process of being sold. A shortlist of pre-qualified bidders will be drawn up in the autumn and the sale is expected to close in 2007. Speculation that the business could be sold for as much as £1bn is rife but BNFL is expecting a lower price as the sale process is not likely to be straightforward.
“By the end of 2007, we will have sold Westinghouse, BNG and BNG America and will know the future of other BNFL businesses,” explained Mike Parker, chief executive of BNFL.

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