Growing nuclear industry and recent acquisition continue to strengthen Calian nuclear results
OTTAWA, Ontario, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Calian Group Ltd. (TSX: CGY) has announced it secured a number of new contracts in the fourth quarter for its nuclear and environmental services division, marking significant growth in the last quarter of FY2024 ending on September 30. The new contracts—19 in total—represent a 58% increase over Q3 FY2024, primarily driven by the successful integration of MDA's nuclear assets and strong organic growth.
The acquisition of MDA’s nuclear division in March 2024 has allowed Calian to capitalize on increased synergies across its nuclear business, through the addition of engineering, tooling and robotics expertise, enhancing its capacity to deliver comprehensive, end-to-end solutions for Canada’s growing nuclear sector. The new contracts span major new nuclear projects in Ontario, Saskatchewan and New Brunswick, supporting life-extension programs for Canada’s existing nuclear facilities and support for next-generation technologies like small modular reactors (SMRs). This expansion has also led to a doubling of the division’s workforce to meet the growing demand for FY2025.
“The integration of MDA’s nuclear assets has been pivotal in expanding our capabilities and market reach within the nuclear sector,” said Patrick Houston, Chief Financial Officer and Chief Development Officer, Calian. “This strategic acquisition has enabled us to deliver more robust and comprehensive solutions for our clients, further strengthening Calian’s position as a leader in nuclear services. Our Q4 contract signings highlight the increasing trust that our clients place in us to provide cutting-edge, safe and reliable solutions in an industry critical to achieving global sustainability goals.”
The global nuclear energy market continues to grow, driven by the demand for clean, sustainable energy to address climate change. In Canada, the federal government’s 2024 budget reinforced its commitment to nuclear energy as a key tool in reaching net-zero emissions by 2050. Calian’s nuclear and environmental services division is committed to supporting this national effort, particularly in delivering advanced solutions for reactor refurbishments and SMR developments.
“Calian is well-positioned to meet the evolving needs of Canada’s nuclear sector,” said Hani Al Anid, Vice President, Calian Nuclear. “With our expertise and highly skilled team, we can continue to meet the vital demands of our current and future customers and support the needs of both existing and next-generation nuclear projects in Canada and around the world.”
Calian’s nuclear and environmental services division provides a comprehensive range of services covering the entire nuclear lifecycle. This includes safety analysis, licensing, emergency preparedness, environmental protection, decommissioning, waste management, and cutting-edge systems engineering and robotics. As an approved supplier for all CANDU nuclear utilities in Canada, Calian’s nuclear and environmental services division has a proven track record of ensuring the safety and sustainability of Canada’s nuclear infrastructure for over 25 years.
To learn more, visit the Calian nuclear and environmental services on calian.com.
About Calian
We keep the world moving forward. Calian® helps people communicate, innovate, learn and lead safe and healthy lives. Every day, our employees live our values of customer commitment, integrity, innovation, respect and teamwork to engineer reliable solutions that solve complex challenges. That’s Confidence. Engineered. A stable and growing 40-year company, we are headquartered in Ottawa with offices and projects spanning North American, European and international markets. Visit calian.com to learn about innovative healthcare, communications, learning and cybersecurity solutions.
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Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as “intend”, “anticipate”, “believe”, “estimate”, “expect” or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company’s most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.
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