GE Hitachi sells Canadian joint venture

23 August 2016

GE Hitachi Nuclear Energy Canada (GEH-C) is selling a Canadian joint venture that supplies nuclear fuel and equipment for Candu nuclear reactors to the Canadian subsidiary of US company BWX Technologies (BWXT) bsdrf in Virginia. BWXT says the acquisition will almost double its presence in Canada and "signals a long-term strategic commitment" to the Candu nuclear power segment. BWXT Canada recently signed a $130m contract to design and build eight generators for Bruce Power's nuclear generation facility in Tiverton, Ontario. GEH-C currently employs 350 people. Ontario-based BWXT Canada has offices in Cambridge and in Pickering, home to one of the province's three large-scale nuclear facilities. Its says the GEH-C headquarters will remain in Peterborough, northeast of Pickering. The financial terms were not disclosed but the companies expect the deal to close in the fourth quarter after receiving Canadian regulatory approvals. 

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