Rolls-Royce have confirmed the completion of the sale of its mainly North American nuclear services business.
The transaction, which was announced on the 26th of September 2019, follows recent clearance from the relevant regulatory authorities. The purchaser is Westinghouse Electric Company, a leading global nuclear business with a strong presence in North America.
According to the firm:
“The sale follows a review of options for the businesses and continues our drive to simplify the Group and focus on meeting the vital power needs of our customers. The sale comprises civil nuclear services businesses in the US and Canada along with sites at Mondragon, France, and Gateshead, UK, which are currently part of our Power Systems business unit. It does not include the instrumentation and controls business based in Grenoble, France, which remains under review. It also does not include our UK nuclear new build operations or small modular reactor activities, which will continue contributing to the provision of low carbon power for the UK.”
Rolls-Royce say it remains a leader in the global nuclear instrumentation and controls sector through its business based in Grenoble. It also provides services to UK new build and existing power stations, with two major contracts at Hinkley Point C to supply back up power systems and heat exchangers.
I do fear RR is copying Boeing in abandoning real engineering & embarking on financial engineering instead.
I concur.
Seems sensible, the North America nuclear market seems to be a nightmare – as Toshiba discovered when it owned Westinghouse.
Relieved to see RR are retaining their small modular nuclear reactor programme. There’s a huge potential market for these smaller, production line manufactured reactors.
cant understand why they have not been given the go-ahead. seems the sensible way forward to me, as i watch that monster hinkley c growing in the distance.