Westinghouse Completes 100% Acquisition of Tecnatom
Spanish Company will Boost Westinghouse's Global Offerings in Nuclear Refueling, Maintenance, Inspection Services, Engineering, Training, and Digital Services and Products
MADRID, November 29, 2023--(BUSINESS WIRE)--Westinghouse Electric Company announced the full acquisition of long-standing partner Tecnatom from Endesa after obtaining all regulatory approvals. Together, Westinghouse and Tecnatom will continue to provide critical services to the Spanish nuclear industry and its global base of customers.
Westinghouse first acquired 50% of Tecnatom in 2021 and operated the company jointly with Endesa. Since then, Westinghouse and Tecnatom partnered successfully in support of projects and commercial opportunities, particularly in inspection services, training and digital solutions. By acquiring the remaining 50%, Westinghouse can fully integrate Tecnatom’s resources, capabilities and products into Westinghouse, in order to better serve the installed fleet of nuclear operators and new build opportunities globally.
"We are very pleased to welcome Tecnatom into the Westinghouse team," said Patrick Fragman, Westinghouse President and Chief Executive Officer. "The partnership established in 2021 with Endesa revealed the depth of expertise and potential of Tecnatom teams, complementing exceptionally well the portfolio of Westinghouse's existing activities. We are looking forward to integrating Tecnatom fully into Westinghouse, at a time when our utility and industrial customers require the highest level of expertise and performance to help them successfully operate their existing operations and implement their plans for new capacities."
Tecnatom is a Spanish engineering and digital company that has provided services to the nuclear sector since 1957. It is a global leader in non-destructive examination (NDE) for the nuclear and aerospace industries. Tecnatom is a unique digital training provider that helps customers optimize operations and support the workforce. It will also offer control room simulators and digital products in support of the deployment of AP1000® technology globally.
Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear technologies to utilities globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and the company’s technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation make Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and X.
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