BWXT finishes Acquisition of GE Hitachi Nuclear Energy Canada

BWX Technologies, Inc. announced that its subsidiary BWXT Canada Ltd. (BWXT Canada) has completed its acquisition of the GE Hitachi Nuclear Energy Canada Inc. (GEH-C) joint venture, which has been re-named BWXT Nuclear Energy Canada Inc. (BWXT NEC).

The terms of the transaction are not being disclosed. The transaction is expected to be accretive to BWXT’s 2017 earnings. Excluding the effects of purchase accounting over the next couple of years, GEH-C’s operating margins compare favorably with the 10 percent margins of the overall BWXT Nuclear Energy segment.

A leading supplier of fuel, fuel handling systems, tooling delivery systems and replacement components for CANDU reactors, BWXT NEC will now operate as a subsidiary of BWXT Canada and will maintain its current locations and management team, including President Mark Ward, who will lead the subsidiary.

“We are very pleased to welcome the talented employees of GEH-C to BWXT, and we are committed to a smooth integration process for both our employees and our customers,” said John MacQuarrie, President of BWXT Canada. “This acquisition signals our strong commitment to the CANDU market and positions us to better serve our customers with more capability and increased value.”

“We are joining a world-class nuclear technology company that has a clear vision and growth strategy that will bring value to our employees and our customers,” said Mark Ward, President of BWXT NEC. “We are excited about this new chapter and to begin working as part of the BWXT family.”

With the completion of the acquisition, BWXT Canada and BWXT NEC now employ a total of approximately 850 employees at four major operating sites across Ontario.