The Swedish state transferred its shares in Studsvik AB to Vattenfall.

The group is comprehensively restructured. The units that were not related to nuclear power were divested. Individual companies are set up in the group with the aim of achieving a customer-oriented organization. Vattenfall successively divested its holding of shares in Studsvik AB in the mid-1990s to private investment companies. In 1998, a German company, SINA Industriservice GmbH, which is active in health physics and decontamination, was acquired.

The nuclear division of Scandpower AS in Norway, which develops in-core fuel management codes, was also acquired. The construction of the THOR waste treatment facility in Erwin, Tennessee, began. The facility reduces the volume of low- and intermediate-level radioactive waste from the US nuclear power industry. During 1998 the development of a method for treating brain tumours also started.