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URS-led Team Awarded Sellafield Contract Extension

Stocks in this article: URS

URS Corporation (NYSE:URS) today announced that a URS-led consortium has been awarded a five-year contract extension by the UK Nuclear Decommissioning Authority (NDA) for its engagement as the Parent Body Organization of the Sellafield nuclear complex in West Cumbria, United Kingdom. The consortium, Nuclear Management Partners, Ltd. (NMP), is an international team comprised of URS, AREVA and AMEC plc.

Under the five-year extension, NMP will manage a scope of work with an annual budget of approximately £1.8 billion, or approximately US$2.9 billion.

Martin M. Koffel, Chairman and Chief Executive Officer of URS, commented: “URS’ core mission is to provide value to our clients while successfully executing their most challenging and essential projects. We are proud of our work at Sellafield, one of the most complex nuclear sites in Europe, and pleased with the NDA’s decision to extend the contract. We understand the unique challenges of this site, and are focused on delivering value while safely accelerating the clean-up of Sellafield.”

Tom Zarges, Chairman of Nuclear Management Partners, said: “We are delighted that NDA has chosen to extend our contract as the Parent Body at Sellafield. While there are many challenges ahead, the team at Sellafield is the best prepared of any in the world to meet these challenges and deliver safe, accelerated high hazard clean up. Over the past five years, NMP stabilized high-hazard facilities, began clean-up and retrievals years ahead of the original schedule, achieved the best safety performance in site history, and delivered hundreds of millions of pounds in efficiency savings. We continually strive to provide superior performance and program execution in a safe, reliable and cost-effective manner.”

The consortium entered into a contractual arrangement with the UK NDA in November 2008 for the management and operations of the Sellafield sites. The 2008 contract had a five-year base term, with an option to extend the contract periodically for a total of 17 years.

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