Czech utility and nuclear operator ČEZ has completed its 100% purchase of Škoda JS from Russian heavy industry and manufacturing conglomerate OMZ, alleviating the risk of sanctions on crucial components for the Czech nuclear fleet.
ČEZ said the purchase of Škoda JS, which offers nuclear servicing and engineering, would protect the company from sanctions which could have a potential impact on securing supplies for its nuclear power plants.
Škoda JS was a part of the industrial giant founded in 1859 by Emil Škoda – which also gave rise to the well-known automaker of the same name – but since 2004 it has been part of OMZ, which is controlled by privately owned Gazprombank.
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