STUDSVIK ANNOUNCES NEW COMPANY ALIGNMENT

Studsvik yesterday announced a company re-alignment aimed at better customer focus and profitable growth. The changes, scheduled to take effect on Jan. 1, 2014, split the organization into three sectors: Waste Treatment, Consulting Services, and Operating Efficiency. Currently, Studsvik divides its business areas into Waste Treatment, Decommissioning, Engineering Services, and Operating Efficiency. The new Waste Treatment section focuses on the management and treatment of radioactive waste, and Mats Fridolfsson, who currently runs the U.S. segment of the company, will serve as President of Business Area Waste Treatment. The new Consulting Services section will provide consulting services on a range of issues including radiological protection, waste, engineering, and decommissioning of nuclear facilities, and Stefan Berbner, who currently heads the Germany segment will be President of Business Area Consultancy Services. "I see the changes as important steps in our efforts to create clarity in terms of customer focus, accountability and efficient processes,” said Studsvik CEO Michael Mononen. “By making these changes we lay the foundation for profitability and future growth. We want to get closer to our customers, focusing on products and services with a high knowledge content and where Studsvik has or can take a leading position in the market, by creating and delivering additional value to our customers,” he said. Mononen will stay on as CEO while Pål Jarness will take over as CFO.