TOKYO-Toshiba Corporation (TOKYO: 6502) today announced that Westinghouse Electric Company, LLC, a Toshiba Group company, has today agreed with AZZ Inc., a global provider of galvanizing, welding solutions, specialty electrical equipment and highly engineered services, to acquire the nuclear parts business of Nuclear Logistics, LLC (NLI), a wholly owned indirect subsidiary of AZZ.
NLI’s nuclear parts business is the largest third-party supplier of nuclear components in the US and with this transaction employees and two facilities in Texas will join Westinghouse. The acquisition will allow Westinghouse to further expand its service business for operating plants.
The transaction is expected to close later this year, and NLI’s nuclear parts business will become a part of Westinghouse.
As U.S. electric utilities seek to maximize their capital investments into their operating plants, Westinghouse has seen a growing need for small size replacement components. NLI’s nuclear parts business portfolio includes many components that Westinghouse currently does not supply. NLI is an OEM for certain equipment types, including obsolete components.
Westinghouse intends to leverage NLI’s nuclear parts business to strategically expand the scope of its operating plant business in order to provide customers a path toward achieve their long-term operating goals.
Outline of Nuclear Logistics, LLC (NLI)
Location: Texas, U.S.
Employees: Approx. 180 Main Business: Components business for nuclear power plants
Toshiba Corporation, a Fortune Global 500 company, channels world-class capabilities in advanced electronic and electrical product and systems into three focus business fields: Energy that sustains everyday life, that is cleaner and safer; Infrastructure that sustains quality of life; and Storage that sustains the advanced information society. Guided by the principles of The Basic Commitment of the Toshiba Group, “Committed to People, Committed to the Future”, Toshiba promotes global operations and is contributing to the realization of a world where generations to come can live better lives.
Founded in Tokyo in 1875, today’s Toshiba is at the heart of a global network of 550 consolidated companies employing 188,000 people worldwide, with annual sales surpassing 5.6 trillion yen (US$50 billion). (As of March 31, 2016.)
To find out more about Toshiba, visit www.toshiba.co.jp/index.htm