§ Mr. Llew SmithTo ask the Secretary of State for Trade and Industry what is the value of BNFL's operations in the United States of America; and if he will make a statement on future market opportunities for BNFL in the United States. [92815]
§ Mr. BattleIn 1997, the turnover of Westinghouse's nuclear business—which BNFL acquired for $900 million along with Morrison Knudsen in March this year—was $1.1 billion. BNFL's US subsidiary, BNFL Inc, earned revenue of $67.6 million. BNFL's current US order book is worth a potential $9 billion if all contract options are exercised. BNFL has been set the target of enhancing its financial performance further through material and progressive growth in profits generated from ordinary100W activities. Its success in winning an increasing share of the US clean-up business will help contribute towards this goal.
§ Mr. Llew SmithTo ask the Secretary of State for Trade and Industry what method is being used by BNFL to put a value on its United States contracts for the purpose of Government proposals to sell its stake in the company. [92816]
§ Mr. BattleBNFL has been set the target of increasing the overall contribution made by its US business to BNFL profits, and of increasing towards 15 per cent. the proportion of BNFL profits derived from the US business.