GE Hitachi Nuclear Energy Canada for Sale to BWX Technologies Unit

Merger mania

GE (NYSE: GE) and Hitachi Ltd. agreed to sell GE Hitachi Nuclear Energy Canada (GEH-C) to BWXT Canada, a subsidiary of BWX Technologies Inc (NYSE: BWXT).

GEH-C has more than 60 years of experience in the supply of nuclear fuel and fuel channel components, services, equipment and parts for the CANDU nuclear industry. This includes designing and supplying nuclear equipment to fuel, inspect, and refurbish reactors. GEH-C employs approximately 350 skilled employees at three locations in Ontario.

The deal is subject to customary conditions and is expected to close by the end of 2016.

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