Studsvik has signed a long-term framework agreement with Norwegian Nuclear Decommissioning to manage spent fuel from Norway’s former research reactors, with an estimated total value of SEK 3–4bn through 2055. While the agreement is not expected to materially impact earnings in 2026–27, we view it as strategically important given the long contract duration and the potential to strengthen FMWT’s position in similar international legacy-fuel projects.
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