Westinghouse to buy nuclear fuel producer for $100mn

30 April 2009 — Westinghouse Electric signed a share transfer agreement with Furukawa Electric Co. and Sumitomo Electric Industries, under which Westinghouse Electric UK will acquire a 52 percent stake in Nuclear Fuel Industries for $100 million.

Nuclear Fuel Industries is Japan’s sole producer of nuclear fuel for both boiling-water and pressurized-water reactors, according to a press release. The acquisition should be finished by May.

Established in 1972, Nuclear Fuel is a supplier of nuclear fuel and services. The company develops, produces and designs technologies for high-temperature gas reactors and fast-breeder reactors. Nuclear Fuel also developed technologies related to nuclear fuel cycle, fuel-related inspection equipment, and maintenance operations using reactor core management systems and safety planning.

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