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General Electric Co. and Hitachi sell Canadian nuclear technology buisness

BWXT to buy Ontario nuclear business from GE-Hitachi, double presence in Canada, Globe and Mail, MISSISSAUGA, Ont. — The Canadian Press, Aug. 18, 2016 General Electric Co. and Hitachi Ltd. are selling a Canadian joint venture that supplies nuclear fuel and equipment for Candu nuclear reactors – a key source of electricity for Ontario.

The buyer is a Canadian subsidiary of BWX Technologies Inc., a U.S. publicly traded company headquartered in Virginia.

BWXT says the acquisition will nearly double its presence in Canada and “signals a long-term strategic commitment” to the Candu nuclear power segment.

 BWXT Canada recently signed a contract, valued at $130-million, to design and build eight generators for Bruce Power’s nuclear generation facility in Tiverton, Ont…….http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/bwxt-to-buy-ontario-nuclear-business-from-ge-hitachi-double-presence-in-canada/article31456767/

August 19, 2016 - Posted by | business and costs, Canada

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