Westinghouse Grows CANDU Capabilities

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Acquisition will provide customized customer solutions

CRANBERRY TOWNSHIP, Pa., May 3, 2021 /PRNewswire/ -- Westinghouse Electric Company has signed a definitive agreement to acquire Laveer Engineering, a specialized nuclear engineering firm in Ontario, Canada. The acquisition will further expand Westinghouse's CANDU capabilities, enabling the company to deploy its expertise to CANDU reactor operators worldwide. It also brings a unique combination of tooling and nuclear plant design to Westinghouse customers.

"We are always looking to bring our customers the most innovative and customized solutions," said Patrick Fragman, Westinghouse President and Chief Executive Officer. "Acquiring Laveer Engineering will strengthen our offerings in the Canadian market and complement our existing global operations and our portfolio of engineering, life extension, and field services across all reactor types."

There are 30 CANDU reactors globally in operation in Canada, Argentina, China, India, Romania, and South Korea. The acquisition provides Westinghouse a more robust platform for outage maintenance services throughout the many CANDU markets.

"Both companies share a similar philosophy of innovation and a desire to execute projects at the highest level," said Peter Gowthorpe, Director of Laveer Engineering. "In addition, Westinghouse is committed to attracting and growing young talent to be the leaders of tomorrow. I look forward to our future as part of Westinghouse, and I am excited to see what we can accomplish together."

The transaction is subject to customary closing conditions and regulatory approvals.

Westinghouse Electric Company is the world's pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world's first commercial pressurized water reactor in 1957 in Shippingport, Pa., U.S. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants. For more information, please visit www.westinghousenuclear.com.

Contact: Sarah Cassella
Director, External Communications
Westinghouse Electric Company
Telephone: +1 412-374-4744
Email: [email protected]

SOURCE Westinghouse Electric Company LLC

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http://www.westinghousenuclear.com