US-based Westinghouse Electric Company said on 3 May that it has signed a definitive agreement to acquire Laveer Engineering, a specialised nuclear engineering firm in Ontario, Canada. The acquisition will further expand Westinghouse's Candu capabilities, enabling the company to deploy its expertise to Candu reactor operators worldwide. It also brings a unique combination of tooling and nuclear plant design to Westinghouse customers.
"Acquiring Laveer Engineering will strengthen our offerings in the Canadian market and complement our existing global operations and our portfolio of engineering, life extension, and field services across all reactor types," said Patrick Fragman, Westinghouse President and Chief Executive Officer.
There are 30 Candu reactors globally in operation in Canada, Argentina, China, India, Romania, and South Korea. Westinghouse said the acquisition provides a more robust platform for outage maintenance services throughout the many Candu markets.
"Both companies share a similar philosophy of innovation and a desire to execute projects at the highest level," said Peter Gowthorpe, Director of Laveer Engineering. "In addition, Westinghouse is committed to attracting and growing young talent to be the leaders of tomorrow." The transaction is subject to customary closing conditions and regulatory approvals.
