Genus PLC
08 August 2002
Immediate Release 8 August 2002
Genus plc
New Contract
Genus plc (Genus) announces that its Consulting Division has won a new contract
from the DTI worth £3 million in sales over three years to manage a portfolio of
projects relating to the nuclear legacy in the Former Soviet Union (FSU). Genus
Consulting's subsidiary, P-E International, will lead a consortium managing a
programme to encourage non-weapons related employment and to support social
development in the former Nuclear Cities of the FSU.
Genus Consultants will investigate the commercial potential of technologies
developed in Russian research centres and make links with UK companies and
academia to develop promising ventures. The team will also provide business and
management training and support for local economic development.
Richard Wood, Chief Executive, said:
'The award of this contract, although not massive in monetary terms, is
strategically important for Genus as it broadens further the geographical reach
of the Consulting division and leaves the Company well placed to explore further
work with the DTI in this and parallel fields.'
Richard Wood, Chief Executive
Philip Acton, Finance Director
Genus plc Tel: 01270 536501
Charles Ryland
Catherine Miles
Buchanan Communications Ltd Tel: 020 7466 5000
Notes for Editors:
Russia's weapons complex includes 10 Closed Nuclear Cities with 770,000
inhabitants employing approximately 127,000 workers. The Genus team will be
working closely with the Russians in the national ministries and the local
authorities and will focus initially on two or three cities, for example, Sarov
(Arzamas-16 in the Nizhny Novgorod region), Snezhinsk (Chelyabinsk-70, Ural
region) and Seversk (Tomsk-7, Siberia). Until recently these cities were only
known by their postcode.
Over 5 years some 15,000 jobs are to be lost under government restructuring and
rationalisation and in the next decade many more will be surplus to defence
requirements. Within the Closed Cities are weapons scientists and technicians
whose expertise would be extremely valuable to proliferating states.
Furthermore, these personnel manage the production, storage and disposal of a
massive inventory of sensitive nuclear materials. The deteriorating economic and
employment conditions within Closed Nuclear Cities have to be halted and
reversed so that alternative non-weapons work is available and morale and
loyalty sustained.
This information is provided by RNS
The company news service from the London Stock Exchange
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