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Westinghouse Electric Company is to acquire Rolls-Royce's civil nuclear services businesses in the USA and Canada along with sites at Mondragon, France, and Gateshead, UK, which are currently part of the British engineering company's power systems business unit.

The sale does not include Rolls-Royce's instrumentation and controls business based in Grenoble, France, nor its UK nuclear new build operations and small modular reactor activities.

Westinghouse president and CEO Patrick Fragman said the acquisition, the value of which was not disclosed, will strengthen its ability to serve the nuclear operating fleet through an expanded presence in its core business, while adding new digital offerings.

The Pennsylvania-headquartered company said the transaction will: expand its operating plant services capabilities; enhance its digital innovation efforts; support both its and Rolls-Royce’s global customer base; and further enable growth.

Warren East, Rolls-Royce chief executive, said: "Our North America services business offers great opportunities for Westinghouse as a leading player in the nuclear energy industry. We believe this transaction represents the best outcome for this part of our civil nuclear operations and its people."

In 2018, the businesses subject to the agreement reported revenues of USD70 million with around 500 employees, which were consolidated within the results of Rolls-Royce's power systems business unit.

The transaction is subject to customary closing conditions and regulatory approvals.

Researched and written by World Nuclear News

Date: Saturday, 28 September 2019
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