BWX Technologies (BWXT) has completed the process to divest its United States-based commercial nuclear services business to Framatome, the company reported on Tuesday.
“Adding a premier nuclear-qualified manufacturing facility to our footprint also enables expansion into space and defense microreactors,” said Rex Geveden, BWXT’s president and chief executive officer.
In a cashless transaction, BWXT will receive a 118 thousand square-foot manufacturing facility and the associated 11 acres of land from Framatome. BWXT will also transition certain contracts, equipment and intellectual property to the company.
BWXT will assume occupancy and ownership of the Framatome facility located near one of BWXT’s Virginia manufacturing sites. BWXT’s Canadian-based nuclear manufacturing and services business is not part of this transaction and will continue its work in North America and overseas.
BWXT has a proven track record of providing maintenance, field service, inspection and plant refurbishment, assisting our customers in meeting their challenging business needs within the company's nuclear services division.
The company has worked to ensure that all of its projects are aligned with our customers’ goals to increase safety, improve plant productivity and availability, and extend plant equipment life. BWXT has extensive experience in managing projects involving the primary and secondary systems of nuclear plants and reactors.
BWXT’s projects have drawn upon the company’s solutions and have delivered a multi-disciplinary approach with custom engineering capabilities, quality control, research and development and field service personnel.
“This strategic divestiture implies a sharper focus on our core government nuclear manufacturing and site operations businesses,” added Geveden.
At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong, Innovation Driven. Headquartered in Lynchburg, Va., BWXT provides safe and effective nuclear solutions for national security, clean energy, environmental remediation, nuclear medicine and space exploration.
With approximately 6,600 employees, BWXT has 12 major operating sites in the U.S. and Canada. In addition, BWXT joint ventures provide management and operations at more than a dozen U.S. Department of Energy and NASA facilities