Carr's Group director talks takeover benefits
A top director at engineering and agriculture firm Carr's Group thinks the company's multimillion pound takeover deal of an American nuclear business will bring massive business benefits.
Ivan Baldwin made the comments following Stanwix, Carlisle-based Carr's purchase of NuVision earlier this week.
He also suggested that it could lead to new jobs and "pretty big" Sellafield contract
NuVision has its headquarters in Pittsburgh and Carr's took it over in a deal worth £8.8m which could rise to £15.4m depending on financial performance.
Mr Baldwin, Carr's business development director, said: "It is quite nice to see a Cumbrian company buying outside the county rather than the other way around."
NuVision is a leading technology and applications engineering company focussed on the commercial nuclear and power plant industry with customers including the US Department of Energy, major nuclear energy suppliers, public utilities, and governments outside of the USA.
It is also a 49 per cent minority shareholder in Mid Columbia Engineering, an engineering company based in Richland, Washington, which is local to the Hanford Site nuclear complex.
Mr Baldwin explained: "It had two big attractions for us.
"It opens up the US market for our remote handling equipment. We have got probably the most comprehensive product range available, which makes us a very attractive offer.
"Also, they have got some very niche technologies that are used in the treatment of radioactive effluent and waste. They have got more than 150 of their systems at Sellafield and there is good synergy between what they do and what Bendalls (an engineering division of Carr's) do."
He added that the technologies which NuVision produce are equivalent to the exterior of a machine while Bendalls can provide the internal workings.
"It puts us in a stronger operating position which helps us to win new business - not just in Cumbria but beyond," said Mr Baldwin.
"It has a particular impact on jobs. We are working with NuVision for a pretty big contract at Sellafield."
Mr Baldwin did not expand on this.
He also said many of the systems which NuVision offer were originally developed by BNFL and acquired by the American firm and Carr's was bringing these "back".
Carr's other Cumbrian operations include the Carrs Billington machinery dealerships.
Last year Carr's sold Silloth Flour Mill as part of a £36m deal to sell its food division – Carr Flour Mills – to Whitworth Holdings.
Mr Baldwin said: "Selling flour has allowed the business to really focus on engineering and agriculturally-focused industries."