Westinghouse Electric Company, LLC has signed a definitive agreement with AZZ Inc. to acquire Nuclear Logistics Inc. (NLI), the largest third-party supplier of safety-related equipment solutions to the nuclear industry. The acquisition supports Westinghouse’s global commitment to develop practical, long-term solutions that deliver customer value for new construction and operating plants.
“We are pleased to support our customers as they extend plant operations and need products for the long term,” said David Howell, Westinghouse senior vice president, Operating Plants Business. “We welcome NLI’s employees to join in Westinghouse’s commitment to provide forward-thinking solutions to our new construction and operating plant customers and help ensure a bright future for the nuclear industry.”
Approximately 180 professional and technical employees will join Westinghouse as a result of the acquisition, as will the Texas facilities that comprise the current NLI footprint. The transaction is expected to close later this year. This acquisition brings two nuclear industry leaders together for a stronger, better equipped company that offers customers the confidence that comes from the original equipment manufacturer, and the flexibility and responsiveness that has been provided by NLI.
Tom Ferguson, chief executive officer of AZZ, said, “We are pleased to have reached an agreement where Westinghouse, a leader in the nuclear industry, has acquired these assets, which will seamlessly integrate into their existing operations and will enable us at AZZ to drive growth as we increasingly focus on our core businesses. I am convinced that Westinghouse will be a great partner to the NLI customer roster, as well as a good employer for NLI’s employees.”
Source: Westinghouse Electric Company
Date: Oct 5, 2016