Westinghouse to acquire IST Nuclear

26 July 2007

Westinghouse Electric Company has signed an agreement to purchase IST Nuclear (ISTN), a leading provider of services and systems for the Pebble Bed Modular Reactor (PBMR).

Nick Liparulo, vice president of engineering services for Westinghouse, said the acquisition will allow the company to become more involved as PBMR technology moves toward commercialisation. In addition, Westinghouse intends to expand ISTN's scope to include working in servicing existing light water reactors in South Africa and elsewhere.

ISTN, formerly part of IST Holdings, was instrumental in the early development of the PBMR and most recently supplied the helium test facility for the PBMR. The company is also under contract to design key systems for a PBMR demonstration unit to be built at the Koeberg site by 2011.

Terms of the acquisition were not disclosed, but Westinghouse did announce that all of ISTN's 118 employees will be retained. Once the acquisition is complete, likely in August, ISTN will operate under the name Westinghouse Electric South Africa.

The sale is contingent on approval from the South Africa Competition Commission.

Related Articles
Unistar schedules ESP, COL for US EPR
Foreign ownership blocks licence for Calvert Cliffs 3
UniStar procuring reactor components for possible US first
Unistar and Ameren to prepare COLA
UniStar Nuclear names Calvert Cliffs
Maryland PSC slams "orchestrated parade" promising Calvert Cliffs 3
Delays to COL review for Nine Mile Point
Constellation and Areva join forces on EPR

Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.