"We already have a long established relationship with the VT Group, which is an employer that works closely with their recognised trade unions.

"Based on past experience and on their intention to develop and grow Project Services’ business we believe the VT Group are a good home. Our members look forward to working with the new employer and focussing on business growth, staff development and providing new opportunities for staff. Clearly terms and conditions of employment will be at the forefront of our work."

However the union has concerns over the bid’s failure to reach the expected sale price of between £130-150m, compared to the £45m achieved with the option of up to an additional £30m if Project Services hits profit targets for the year ending March 31, 2008.

Prospect has 15,000 members in the nuclear industry. Project Services employs over 730 highly skilled experts – most of them Prospect members – with extensive technical waste and decommissioning expertise in the nuclear and hazardous waste industries.

It holds contracts on nuclear sites, including Sellafield and Magnox reactor sites, and also works for the Ministry of Defence, BERR, and the Home Office. A large growth area for its business is the emerging nuclear clean-up market in Central and Eastern Europe.