Framatome has completed its acquisition of BWX Technologies’ U.S. commercial nuclear services business, the France-based company announced on June 2. With this transaction, the company said, Framatome expands its portfolio of equipment and tooling for nuclear power plant inspections and maintenance.
BWXT will receive an 118,000-square-foot manufacturing facility and the associated 11 acres of land from Framatome in the cashless exchange.
What it means: Under the terms of the agreement, BWXT will transition certain contracts, equipment, and intellectual property to Framatome. BWXT will assume occupancy and ownership of the Framatome facility located near one of BWXT’s Virginia manufacturing sites. BWXT’s Canada-based nuclear manufacturing and services business is not part of this transaction and will continue its work in North America and overseas.
Framatome said that it intends to restructure its existing staff in order to meet the increased business within its Installed Base Business Unit in the United States.
What they’re saying: "We continue to expand our portfolio of solutions to reach more of the nuclear energy market with products and services that will sustain this reliable and competitive source of low-carbon electricity well into the future,” said Catherine Cornand, senior executive vice president of Framatome’s Installed Base Business Unit. “This acquisition enhances our already strong expertise and capabilities in inspections and maintenance services that support the long-term operation of plants in the U.S. and around the world.”