KINECTRICS TO EXPAND NUCLEAR SERVICES THROUGH ACQUISTION OF CANDESCO
TORONTO, Ontario, April 1, 2009 – David Harris, President and CEO of Kinectrics Inc. today announced that Kinectrics will greatly expand its expertise in nuclear regulatory and licensing capabilities through the acquisition of Candesco Corporation of Toronto, Ontario. Candesco is an established company, specializing in providing regulatory affairs consulting for the Canadian power industry.
Both companies will continue to provide advanced services in nuclear asset management, condition assessment, engineering and operations support. All of the Candesco partners will continue to work for the company, and Glenn Archinoff will remain as President and CEO of Candesco Corporation.
“Candesco’s specialized capabilities in the regulatory field, and track record of success make it an ideal complement to expand Kinectrics’ position as a premier provider of nuclear-related engineering and testing services”, said Harris. “Candesco’s reputation and dedication will join with that of Kinectrics in continuing to provide only the highest standards of service for our customers”, he concluded.
“We are confident that Candesco’s proven expertise in providing comprehensive capabilities in licensing management and safety analysis will integrate well with Kinectrics, offering our customers an enhanced range of services, and our staff an excellent long-term future”, said Archinoff.
On completion of the acquisition, Candesco will operate as a separate company within the Kinectrics family of companies.
Kinectrics is an independent energy services company with almost 100 years of proven success in the power industry. Kinectrics’ laboratory and field specialists in generation (nuclear, hydro and fossil), transmission, distribution, and environmental technologies use innovative science and engineering to help clients improve business performance. www.kinectrics.com
Serving the nuclear industry for over a decade, Candesco has established a reputation as a leading solution provider for regulatory affairs and licensing, safety assessment, radiation and environmental protection and operational safety support. www.candesco.com
With this acquisition, Kinectrics and Candesco will together continue to build proudly on long-established international reputations for technical excellence within the nuclear community.
- End -
