Canadian Manufacturing

GE-Hitachi joint venture selling Candu nuclear fuel supply business

The buyer, Canadian subsidiary of Virginia-based BWX Technologies Inc, says the acquisition will nearly double its presence in Canada


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A Candu nuclear reactor in China. PHOTO Atomic Energy of Canada Limited (AECL)

Qinshan Phase III units 1 & 2, located in Zhejiang China has two CANDU 6 reactors. PHOTO Atomic Energy of Canada Limited (AECL)

MISSISSAUGA, Ont.—General Electric and Hitachi 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. (BWXT), 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.

GE Hitachi Nuclear Energy Canada Inc. (GEH-C) currently employs 350 people in Peterborough, Toronto and Arnprior, Ont.

Ontario-based BWXT Canada has offices in Cambridge, Ont., and in Pickering, home to one of the province’s three large-scale nuclear facilities. Its says the GEH-C headquarters will remain in Peterborough, northeast of Pickering.

Financial terms of the GEH-C sale weren’t disclosed but the companies expect the deal to close in the fourth quarter after receiving Canadian regulatory approvals.


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