NUCLEAR services company Studsvik is planning to sell its metal recycling plant at Lillyhall, near Workington.
The Swedish firm has signed a deal worth 355m Krona (£30.5m) to sell its waste treatment business in Sweden and the UK to EDF of France.
It says that EDF is committed to developing the business, safeguarding jobs. The deal should be completed in the third quarter of 2016, subject to regulatory approval.
The agreement also involves a commitment for EDF and Studsvik to collaborate in the areas of nuclear decommissioning and waste management.
Studsvik's chief executive Michael Mononen said: “The divestment of the waste treatment business and the co-operation agreement with EDF position Studsvik for growth, building on a more stable and focused business platform.”
The firm's Lillyhall operation decontaminates and then recycles steel and scrap metal from Sellafield and other UK nuclear sites.
EDF is the world's biggest electricity generator, and is building a new nuclear power plant at Hinkley Point in Somerset. The French government owns a majority stake.
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