OREANDA-NEWS. A regular meeting of the ALVEL, a.s. board took place in Prague. The members of the board discussed several issues on the agenda: state of the company’s business, fulfillment of contractual obligations, activities planned for 2013, registration of the ALVEL subsidiary in Moscow, priority projects that are to be approved by the TVEL JSC board.

The ALVEL, a.s. has functioned successfully throughout 2012; all planned economic indicators were achieved. According to the results of the accounting period, the indicators of the financial activities are as follows: the revenue exceeds 2.5 mln euros (as compared to the planned 2.4 mln euros). Annual profit constitutes 229,000 euros (55,000 planned). The income is planned to get 3.5 times higher during 2013. Substantial growth of non-nuclear production income share (from 34% to 64%) is expected as a result of general production projects: technology transfer (fuel storage tanks production, processing equipment and machinery); marketing of non-nuclear products of the TVEL Fuel Company plants.

In 2012, ALVEL successfully fulfilled its contractual obligations in terms of Dukovany Nuclear Power Station second plant energy extension and Temelin Nuclear Power Station maintenance.

Additional contract between the VNIIM JSC and the ALVEL, a.s. for zirconium items supplies was signed in February 2013. Last April the ALVEL, a.s. signed a 9-years-long contract with the VNIIM JSC and Czech subcontractors including UJP Praha and UJV Rez. The contract regulates experimental and analytical studies. The contract value is 10.6 mln USD. The activities shall be carried out according to the schedule and are expected to be completed on time.

ALVEL means to further extend cooperation with CEZ, a.s., a Czech operator of nuclear power plants, expand its line of services and orders, including research of fuel system operation in active zone and enhancement of fuel assemblies that influence the operations of reactors and ICUF. One of the top priorities for 2013 is to make contracts with leading European operators maintaining reactors in Western Europe. During the next months the number of projects will increase dramatically. The Company is planning to expand geographically, including Eastern European market (Slovakia, Hungary, and Bulgaria).

As soon as in April, ALVEL is planning to open a branch in Moscow to promote company’s services on the Russian market.

In December 2011, the ALVEL a.s. was established and registered in the Czech Republic by the TVEL (which is a Fuel Company of Rosatom) and Czech ALTA Invest a.s. The Czech partner is the majority shareholder possessing 50% +1 shares of the equity capital. The rest belongs to the Russian investors.

The TVEL Fuel Company of Rosatom is a part of vertically integrated company of the Russian nuclear industry. The TVEL Fuel Company consists of manufacturing and scientific institutions involved into fuel production and separation-sublimation complex, as well as companies producing gas centrifuges and related equipment. The TVEL Fuel Company was established to introduce optimal management of the nuclear fuel cycle initial stage companies and to increase operational efficiency and competitiveness on the global market.