Westinghouse To Acquire 50% Of Tecnatom

MADRID, Oct. 4, 2021 /PRNewswire/ -- Westinghouse Electric Company has signed a definitive agreement with Iberdrola and Naturgy to acquire 50% of Tecnatom. This acquisition advances the company's strategy to expand its technical nuclear outage, engineering, and digital services capabilities worldwide. Once completed, Westinghouse will co-own and co-manage Tecnatom with Endesa through a joint venture.

"Tecnatom's talented people and innovative products will complement and strengthen our outage maintenance, engineering and digital services portfolio," said Patrick Fragman, Westinghouse President and Chief Executive Officer. "We are looking forward to expanding our nuclear capabilities to provide a wider range of customized solutions for our customers in Europe and globally."

Tecnatom is a Spanish engineering company that has been providing services to the nuclear sector since 1957, mainly on inspection and structural integrity, operation personnel training, plant operation support engineering and digital solutions. Westinghouse and Tecnatom have been long term partners in these focus areas, and also on AP1000^® technology.

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

Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear technologies to utilities globally. Westinghouse supplied the world's first commercial pressurized water reactor in 1957 and the company's technology is the basis for nearly one-half of the world's operating nuclear plants. For over 130 years, innovation makes Westinghouse the preferred partner for technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and Twitter.

Westinghouse Contact: Chantal Dorange
Telephone: +34 91 2106410
Email: [email protected]

SOURCE Westinghouse Electric Company

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