France’s Framatome on 18 January announced an asset purchase agreement with Schneider Electric to acquire Schneider’s nuclear automation business. The two companies recently signed an asset purchase agreement that outlines the terms of the sale, which is expected to close before the end of the first quarter of 2018.
The acquisition expands Framatome’s instrumentation and control (I&C) offerings. Modernisations, upgrades and ongoing support are vital to managing economic, long-term operation of nuclear power. More than 80 safety I&C systems have been installed by Framatome on 44 reactors in 17 countries across the world, and approximately 250 automation systems have been installed or are being installed by Schneider Electric.
The agreement also creates a long-term manufacturing partnership, which gives customers I&C options based on a comprehensive global technical expertise and market knowledge. At the end of December, New NP, part of the company previously known as Areva NP, was sold to the EDF Group (75.5%), Mitsubishi Heavy Industries (19.5%) and Assystem (5% percent). Recently New NP became Framatome, a leader in the nuclear energy market with a focus on servicing and supplying fuel. Framatome had been France’s leading nuclear reactor manufacturer before it was merged with nuclear fuel group Cogema to form Areva in 2001.