11th Dec 2008 11:01
11 December 2008
Nuclear seminar
AMEC is today holding a capital markets seminar in London focused on its Nuclear business.
Didier Pfleger, Chief Operating Officer and President of the Power and Process division (P&P), will be joined at the seminar by his leadership team from the Nuclear business. Didier will introduce the event and will set the context of the Nuclear business as part of P&P.
Mike Saunders, President of the Nuclear business, together with colleagues, will describe the scope of AMEC's activities in nuclear and the nature of opportunities presented by the renaissance of nuclear power generation around the world.
Particular focus will be given at the seminar to Sellafield, where AMEC's share of Nuclear Management Partners consortium (NMP) dividends arising from the contract will be confirmed as being 36 per cent. NMP fee income of up to £50 million a year will be subject to performance against targets agreed under the Parent Body Agreement and the joint venture will incur certain costs relating to its socio-economic and other commitments under the agreement. As a result, AMEC's share of income in a mature year of operation is expected to be c.£10 million. In 2009, the level of income will reflect the contract being in a transition phase.
AMEC's share of NMP income will be equity accounted, and will be reported in the segmental results of the P&P division.
No further material new information will be disclosed in the presentations.
A live webcast of the event, starting at 2.30pm, and presentation slides will be available on amec.com
Current trading
There will be no statement on current trading at the seminar.
Pre-close trading update 14 January 2009
In line with past practice, AMEC will make a trading update for the year ending 31 December 2008 before entering into closed period ahead of the group's preliminary results announcement, which is expected on 12 March 2009.
The pre-close trading update will be issued to the London Stock Exchange at 7.00am on Wednesday 14 January 2009.
Enquiries to:
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AMEC plc: |
+ 44 (0) 20 7539 5800 |
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Sue Scholes, Director of Communications |
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Neil Jamieson, Director of Investor Relations |
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Media: |
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Harold Ashurst, Communications Manager, Nuclear |
+44 (0) 1565 684503 |
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Frank Stokes, Media Relations Manager |
+44(0) 1452 872121 |
Internet users will be able to view this announcement, together with other information about AMEC plc, at the company's web site amec.com
ENDS
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