CRANBERRY TOWNSHIP, Pa., Jan. 31, 2020 /PRNewswire/ -- Today, Westinghouse Electric Company will complete the acquisition of Rolls-Royce's Civil Nuclear Systems and Services business in North America and in select sites in Europe. The acquisition represents a strategic investment in expanding the company's nuclear products and services offerings. This acquisition supports Westinghouse's global customer base through enhanced operating plant services capabilities and technologies. It also strengthens the company's digital innovation efforts.
"Expanding our geographic footprint and strengthening our portfolio of systems and services is a key focus to better serve our clients and deploy innovative and leading solutions to the installed base of nuclear plants," said Westinghouse President and Chief Executive Officer Patrick Fragman. "Both Westinghouse and Rolls-Royce Civil Nuclear customers will gain an expanded presence and benefit from synergies between our companies. With this strategic investment, we are enhancing our customer offerings in order to support their long-term operating goals to produce carbon-free, cost-effective and reliable energy."
Through the transaction, Westinghouse will acquire the Rolls-Royce Civil Nuclear Systems and Services' 11 locations in Canada, France, the United Kingdom and the United States. These sites support plant automation and monitoring systems, field services, manufacturing and engineering services as well as digital engineering services. These are key areas in supporting Westinghouse's efforts to optimize customer planning and maintenance, and provide innovative systems and services to maximize performance, cost effectiveness and support life extension of the nuclear plants worldwide.
All closing conditions have been met for Westinghouse to complete the acquisition. The final closing will be effective as of 11:59 p.m. EST on January 31, 2020.
Westinghouse Electric Company is the world's pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world's first commercial pressurized water reactor in 1957 in Shippingport, Pa., U.S. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants. For more information, please visit www.westinghousenuclear.com.
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SOURCE Westinghouse Electric Company LLC