Toshiba-owned Westinghouse Electric Company has announced plans to buy Italian component manufacturer Mangiarotti S.p.A, which specializes in the fabrication of heat exchangers and pressure vessels. The deal will allow Westinghouse to expand beyond nuclear and into the oil and gas sector.
Westinghouse said that the transaction is expected to be completed by early August. Terms of the deal were not disclosed.
In addition to gaining additional manufacturing capability for nuclear power plant components, Westinghouse said that expanding into the oil and gas market was also 'of primary interest.'
"Our continued successful manufacturing expansion like Mangiarotti allows us to be a broader global provider in all energy fields," commented Westinghouse president and CEO Danny Roderick.
Westinghouse says it will continue operations of Mangiarotti in the Monfalcone and Pannellia facilities in Italy. According to its website Mangiarotti operates three manufacturing facilities in the country, with an additional plant at San Giorgio di Nogaro. It is unclear how this facility will be affected.
Mangiarotti has been a long-term supplier to Westinghouse for nuclear power plant components, including steam generators, heat exchangers, reactor pressure vessels and pressure vessels, tanks, spent fuel casks. The company is ASME (N, NPT, NS, N3, NA) and ISO 9001:2008 certified.
Mangiarotti has also built processing equipment for other industries, including autoclaves, columns, towers, drums, separators, splitters, strippers; and has manufactured condensers, coolers and boilers.
"Incorporating the depth of this company into our supply chain is another example of our unwavering commitment to make the strategic supply investments that will further improve our ability to serve our customers," said Rick Gabbianelli, Westinghouse senior vice president of global strategy.