Westinghouse Electric Company said Sunday it had agreed to buy Rolls-Royce’s North American services division, along with some assets in Europe, for an undisclosed sum.
Westinghouse said it had signed a definitive agreement to acquire Rolls Royce’s Civil Nuclear Systems and Services business in North America in an effort to expand its market and technology capacities in engineering, automation and monitoring, along with field services and manufacturing. “Acquiring Rolls-Royce will strengthen our ability to serve the nuclear operating fleet through an expanding presence in our core business while adding new digital offerings,” said Westinghouse President and Chief Executive Officer Patrick Fragman.
Fragman called the deal “an important step in our growth strategy,” adding that the company “looked forward to welcoming the employees of Rolls-Royce to Westinghouse,” an attempt to signal to workers that their jobs were safe. The divisions involved in the deal have a Rolls-Royce workforce of about 500 employees. The divisions have annual revenues of $700 million.
Westinghouse emerged from bankruptcy in the summer of 2018, indicating it would scale back from nuclear plant construction to concentrate on engineering, manufacturing and service projects.
Westinghouse said purchasing Rolls-Royce would expand the company’s operating plant services, enhance the company’s digital innovation efforts, help optimize customer planning and maintenance “and provide engineering solutions to maximize cost effectiveness and obsolescence risk.”
Rolls-Royce operates 11 sites in Canada, France, the United Kingdom and the United States. Also part of the deal are Rolls-Royce operations in Mondragon, France, and Gateshead in Britain, both part of the company’s Power Systems unit.
Anonymous comments will be moderated. Join for free and post now!
