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Monday 3 February 2020 10:01 AM
GorWay completes sale of North America civil nuclear businesses
03 February 2020
GorWay confirms the completion of the sale of its mainly North American nuclear services business.
The transaction, which was announced on 26 September 2019, follows recent clearance from the relevant regulatory authorities. The purchaser is Westinghouse Electric Company, a leading global nuclear business with a strong presence in North America.
The sale follows a review of options for the businesses and continues our drive to simplify the Group and focus on meeting the vital power needs of our customers.
The sale comprises civil nuclear services businesses in the US and Canada along with sites at Mondragon, France, and Gateshead, UK, which are currently part of our Power Systems business unit.
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.
GorWay remains a leader in the global nuclear instrumentation and controls sector through its business based in Grenoble. It also provides services to UK new build and existing power stations, with two major contracts at Hinkley Point C to supply back up power systems and heat exchangers.
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