Six billion dollars ($6 billion) will be spent by the Department of Energy (DOE) of the United States as part of President Barack Obama’s stimulus package to clean up nuclear weapons sites at Cold War-era facilities. One pertinent fact to note is that this money will be paid to companies involved in nuclear toxic waste handling. These companies as such stand to gain increased revenue. Below are some of the companies (stock ticker symbol in parentheses) that could benefit from this cleanup effort:
Energy Solutions Inc (ES)
Energy Solutions is a provider of specialized technology-based nuclear services to government and commercial customers. It derives almost 100% of its revenue from the provision of nuclear services .The company operates strategic facilities for safe processing and disposal of radioactive materials, including a facility in Clive, Utah, four facilities in Tennessee and two facilities in Barnwell, South Carolina. It also manages 10 sites in the United Kingdom with 22 reactors for the Nuclear Decommissioning Authority (NDA). Energy Solutions derives revenue from United States government agencies for the management and operation or clean-up of DOE facilities that are contaminated by radioactive materials. Its work involves providing customized waste management, decommissioning and environmental remediation at such sites as the mixed oxide nuclear project at Savannah River, South Carolina.
Fluor Corporation (FLR)
Fluor Corporation is a holding company that, through its subsidiaries provides engineering, procurement and construction management (EPCM) and project management services. Its government segment is a provider of project management sites for United States agencies. For the DOE, Fluor Corporation provides site management, environmental remediation, decommissioning, engineering and construction services at the former plutonium production complex in Hanford in southeastern Washington.
The Shaw Group Inc. (SGR)
The Shaw Group Inc. is a diverse, technology, construction, fabrication, environmental and industrial services company. It delivers its services from over 150 locations, including 19 international locations. The Company holds a 20% interest in Westinghouse Group (Westinghouse), which provides advanced nuclear plant designs and equipment and a range of other services to the owners and operators of nuclear power plants. The Shaw Group Inc.’s Environmental and Infrastructure segment provides services such as environmental restoration and decontamination, regulatory compliance and facilities management for United States government agencies such as the DOE, Department of Defense and the Environmental Protection Agency. It is presently working for the DOE on several nuclear weapons production sites, including the Savannah River Site.
URS Corporation (URS)
URS Corporation is a provider of engineering, construction and technical services. It has a network of offices across the United States and in more than 30 countries. URS Corporation provides services to a range of domestic and international clients including the United States federal government agencies, national governments of other countries, state and local governments both in the United States and in international locations. Its services include deactivation, decommissioning and disposal of nuclear weapons stockpiles and other nuclear waste.
Information presented here has been sourced from www.reuters.com/finance.