Westinghouse Completes Acquisition of 50% of Tecnatom
The company continues its successful expansion in Europe, becoming co-owner and co-manager of Tecnatom through a joint venture with Endesa
MADRID–(BUSINESS WIRE)–Westinghouse Electric Company stepped up its long-term partnership with Tecnatom after receiving all regulatory approvals for the 50% acquisition of shares previously owned by Iberdrola and Naturgy, as announced in October 2021.
With this acquisition, Westinghouse enhances its growth strategy and increases its global nuclear capabilities, especially in nuclear refueling, engineering and digital services.
Tecnatom will be managed as a joint venture between Endesa and Westinghouse.
Patrick Fragman, Westinghouse President and Chief Executive Officer, emphasized that “We are looking forward to further strengthen our relationship with Endesa. Tecnatom is very well positioned in the nuclear industry globally, especially in the refueling maintenance, engineering, and digital services. Its innovative digital solutions will enable significant opportunities to drive Westinghouse’s overall growth strategy. Tecnatom’s competencies and technologies will further expand Westinghouse’s capabilities to support our clients worldwide in designing and operating their plants, so that these plants can safely supply affordable and reliable clean electricity and contribute to energy security.”
Tecnatom is a Spanish engineering company that currently employs approximately 850 people and has provided services to the nuclear sector since 1957. Westinghouse and Tecnatom have collaborated for many years in the mentioned areas, including on AP1000® technology.
Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear technologies to utilities globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and the company’s technology is the basis for nearly one-half of the world’s operating nuclear plants. For over 130 years, innovation makes Westinghouse the preferred partner for technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and Twitter.