Studsvik is launching a sweeping programme of change

Studsvik is launching a sweeping programme of change Studsvik, which is a high-tech company in the forefront of nuclear competence and technology, has decided to implement a programme of change. The aim is to achieve drastic improvements in profitability through better focusing and reduced costs. The work of change has already been started in the business unit Studsvik Nuclear AB. A review was made of structure, organization and manning during the spring. This resulted in a programme of change to be implemented over a two-year period, as soon as negotiations under the Act on Co-determination at Work have been completed. Most of the changes will be made in the next six to twelve months. A new organization and modified working methods, combined with staffing cuts, when fully effective, are expected, to bring permanent savings of about 15 million kronor per year within Studsvik Nuclear AB. "The programme determined for Studsvik Nuclear AB is part of our efforts to meet increased efficiency requirements as a result of the deregulated electricity market. We are now taking the next step and focusing on how to further optimize Studsvik's internal structure. This may result in changes to the group structure, increased co-ordination between units and changes in the dimensioning of operations, by means of both outsourcing and insourcing etc" says Carsten Olsson, Studsvik AB's Chief Executive Officer. For further information please contact: Carsten Olsson, President and CEO of Studsvik AB, tel 0155-22 10 20 or mobile 0709-67 70 20 Jerrry Ericsson, Chief Financial Officer Studsvik AB, tel 0155-22 10 32 or mobile 0709-67 70 32 Sten-Olof Andersson, President of Studsvik Nuclear AB, tel 0155-22 15 20 or mobile 0709-67 71 20 Facts about Studsvik Studsvik is a high-tech company, focusing on the nuclear power industry and nuclear medicine. Business is conducted through four Strategic Business Units (SBUs): Nuclear Technology, Waste & Decommissioning, Industrial Services and Nuclear Medicine. Nuclear Technology offers products and services related to nuclear power plant operation. These include the testing and analysis of nuclear fuel and materials, computer codes for reactor operation, consulting and instrumentation for the measurement of radiation. Activities are dependent on Studsvik's nuclear reactors and specilist laboratories, located outside Nyköping. Waste & Decommissioning Waste & Decommissioning treats low and intermediate level waste from nuclear reactors and provides services for the dismantling of nuclear facilities. European operations focus on the treatment of low level waste in Studsvik's incineration and melting facilities located outside Nyköping. US operations, conducted at Studsvik's facilities in Erwin, Tennessee, include volume and weight reduction of ion-exchange resins from commercial nuclear power plants in the USA. Industrial Services Industrial Services mainly provides services to the nuclear power industry and also offers services to other industries. Operations include decontamination, health physics, dosimetry services for hospitals, dentists and veterineries, chemical cleaning and dismantling of nuclear facilities as well as process cleaning. Activities have historically been concentrated to Sweden. However, since the German company, SINA, was aquired in 1998, the German business accounts for more than a half of the SBU's income. Nuclear Medicine Nuclear Medicine provides a number of nuclear-related products and methods for medical use. The range includes a method for the treatment of brain tumors and a number of radioisotopes. ------------------------------------------------------------ This information was brought to you by BIT The following files are available for download: