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Westinghouse to Acquire 50% of Tecnatom

October 4, 2021 by Westinghouse Electric Company

As Part of the Company's Growth Strategy in Outage, Engineering and Digital Services

Madrid, Spain, October 4, 2021 –Westinghouse Electric Company has signed a definitive agreement with Iberdrola and Naturgy to acquire 50% of Tecnatom. This acquisition advances the company’s strategy to expand its technical nuclear outage, engineering, and digital services capabilities worldwide. Once completed, Westinghouse will co-own and co-manage Tecnatom with Endesa through a joint venture.

“Tecnatom’s talented people and innovative products will complement and strengthen our outage maintenance, engineering and digital services portfolio”, said Patrick Fragman, Westinghouse President and Chief Executive Officer. “We are looking forward to expanding our nuclear capabilities to provide a wider range of customized solutions for our customers in Europe and globally.”

Tecnatom is a Spanish engineering company that has been providing services to the nuclear sector since 1957, mainly on inspection and structural integrity, operation personnel training, plant operation support engineering and digital solutions. Westinghouse and Tecnatom have been long term partners in these focus areas, and also on AP1000® technology.

The transaction is subject to customary closing conditions and regulatory approvals.