Rolls Sells US Nuclear Business
By Jack Burke27 September 2019
Rolls-Royce has signed an agreement to sell its North American civil nuclear services businesses to Westinghouse Electric Co. The move follows a review of options for the businesses and continues the company’s drive to simplify the company’s structure.
The sale comprises civil nuclear services businesses in the U.S. and Canada along with sites at Mondragon, France, and Gateshead, UK, which are currently part of the Power Systems business unit. Terms were not disclosed.
It does not include the instrumentation and controls business based in Grenoble, France, which remains under review. It also does not include our UK nuclear new build operations or small modular reactor activities, which will continue contributing to the provision of low carbon power for the UK.
“Our North America services business offers great opportunities for Westinghouse as a leading player in the nuclear energy industry,” said Warren East, Rolls-Royce chief executive. “We believe this transaction represents the best outcome for this part of our civil nuclear operations and its people.”
In 2018, the businesses subject to the agreement reported revenues of US$70 million with ~500 employees, which were consolidated within the results of our Power Systems business unit.