Candu Energy Inc. marks milestone with first bargaining ratification

MISSISSAUGA, ON, June 4, 2012 /CNW/ - Candu Energy Inc. (Candu) is pleased to announce that its employees represented by the Public Service Alliance of Canada (PSAC) have voted to ratify a new collective agreement.  This represents a key milestone for Candu, a private-sector company which was formed with the acquisition of the commercial reactor division of Atomic Energy of Canada Limited from the Government of Canada in October 2011.

"Negotiating new collective agreements with the unions representing employees at Candu has been a top priority since the acquisition," said Kevin Wallace, President and General Manager, Candu Energy Inc. "We need to be flexible, productive and competitive in an increasingly crowded global marketplace. Ratification of the new collective agreement by our PSAC-represented employees provides them with certainty and demonstrates their commitment to the business and to the CANDU industry."

Candu appreciates the goodwill and positive approach PSAC brought to negotiations which allowed the company and the union to reach a timely agreement. Formed in 1966, PSAC represents the designers and draftspeople at Candu, but more broadly represents some 172,000 people across Canada and at embassies and consulates abroad.  Over the past five months, Candu has been in ongoing negotiations with the two unions representing its employees to ensure new collective agreements are competitive, and reflect current market and economic realities.

About Candu

Candu is a leading full-service nuclear technology company providing nuclear power reactors and nuclear products and services to customers worldwide. Our 1,400 highly skilled employees design and deliver state-of-the-art CANDU® reactors, carry out life extension projects, provide plant life management programs and tools, and offer operation and maintenance services for existing nuclear power stations.

Candu is a wholly-owned subsidiary of SNC-Lavalin Inc. (TSX: SNC).

SOURCE CANDU Energy Inc.

For further information:

Contact:
Katherine Ward
Director, Communications
Candu Energy Inc.
905-403-7349

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CANDU Energy Inc.

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