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Samsung Heavy Industries, Sargent & Lundy Sign Deal for FSMR Development; Shares Jump Over 5%

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Samsung Heavy Industries (KRX:010140) signed a memorandum of understanding with US-based nuclear power plant design and engineering firm Sargent & Lundy to develop a floating small modular reactor (FSMR) standard platform, according to a Wednesday filing with the Korean Exchange.

The two firms will collaborate to develop and deploy the technology-agnostic FSMR standard platform that will be compatible with multiple reactor technologies, the filing said.

Shares of Samsung Heavy Industries added over 5% in recent trade.

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