MP Gallant Welcomes AECL Restructuring Announcement Chalk River Laboratories excluded from deal

Chalk River, Ontario… Cheryl Gallant, MP Renfrew-Nipissing-Pembroke, welcomed the news the uncertainty regarding the future of Atomic Energy of Canada (AECL) is over with the announcement that the CANDU Reactor Division of (AECL) has been sold. Under the terms of the agreement, SNC-Lavalin, through its wholly owned subsidiary CANDU Energy, will take over the CANDU Reactor Division’s three business lines: services to the existing fleet, life-extension projects and reactor new builds.

“I am pleased the Canadian nuclear legacy will remain in Canadian hands. The people of Canada will retain ownership of all CANDU intellectual property, while providing an exclusive licence to CANDU Energy to grow its business,” stated Cheryl Gallant MP. “The Federal Government has adopted many elements developed by our local Chalk River Employees Ad Hoc TaskforcE (CREATE) committee for a national laboratory. CREATE was formed at my direction by a group of current and former employees to help me champion the cause of re-vitalizing Chalk River Laboratories (CRL) after years of cutbacks by the former government. It is important to note CRL is not part of this sale. ”

AECL Nuclear Laboratories will provide services, on a commercial basis, to CANDU Energy post-closing. The agreement is expected to generate revenue during its five-year term. AECL could be asked to provide various services including: Shielded Facilities, Reactor Chemistry and Systems Engineering. This transaction is part of a necessary restructuring amid challenging domestic and international developments and is consistent with the overall Government approach to fiscal responsibility. It is a critical step to strengthen Canada’s nuclear industry while reducing taxpayers’ exposure to nuclear commercial risks. It’s expected that approximately 1,200 jobs will be protected at the closing of the transaction.

“Since we became Government, I have supported the investment of hundreds of millions of dollars into AECL for its future success” said MP Gallant. “Now that this announcement has been made, it is time to move forward. I believe there is a bright future for the nuclear industry in Canada and I look ahead to working with our government to realize that future,” concluded Cheryl Gallant, MP.