Ultra Electronics signs memorandum of understanding with AREVA

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Defence, security, transport and energy company Ultra Electronics on Thursday signed a memorandum of understanding with AREVA to initiate a future partnership in nuclear power generation and the build of new EPR (Eurpean pressurized water) reactors in the UK.

The agreement covers potential collaboration on instrumentation and control systems including reactor protection and control and relates to the two EPR reactors planned by EDF Energy at Hinkley Point for which a site licence was granted last month.

The firm said the collaboration could also extend to other EPR reactors including those planned at Sizewell.

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Rakesh Sharma, Chief Executive of Ultra, said: "I am pleased to have signed this agreement which recognises Ultra's position in the supply of safety critical instrumentation & control to the global nuclear industry. Through our continuing strategic relationship we are happy to support AREVA with our proven range of proven specialist technologies."

The share price fell 0.37% to 1,621p by 09:15.

NR