Westinghouse Transitions Planned Purchase of Nuclear Logistics to a Teaming Agreement


By Editors of Power Engineering

Westinghouse Electric announced that its planned acquisition of Nuclear Logistics LLC will instead become a teaming agreement.

Under the agreement, Westinghouse and AZZ Inc., owner of Nuclear Logistics, will jointly market safety-related equipment to the nuclear industry.

Tom Fergusin, CEO of AZZ, confirmed in a press release the buyout move was terminated.

“Both parties made significant progress but it became apparent that the market needed us to focus on building our heritage businesses,” he said. “We are confident that this alliance represents the most effective and expeditious path forward. We are pleased to move forward on an agreement that leverage’s Westinghouse’s OEM strength and NL’s aftermarket capabilities to offer our customers a higher level of service and solutions. We believe this will be a mutually beneficial agreement for both parties.”

The move by Westinghouse to acquire the Texas company, which is the largest third-party supplier of safety equipment to the nuclear industry, and its 180 employees was originally announced in October of last year, and was expected to close by the end of 2016.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...