BWX Technologies, Inc.NYSE
Thu, Aug. 18, 9:06 AM
- BWX Technologies' (NYSE:BWXT) subsidiary, BWXT Canada, has agreed to acquire all of the shares of the GE Hitachi Nuclear Energy Canada joint venture.
- The acquisition roughly doubles BWXT's footprint in Canada and signals a long-term strategic commitment to the attractive CANDU nuclear power segment and the attendant growth opportunities related to plant life extensions.
- While terms of the transaction are not being disclosed, it is expected to be accretive within the first year and to favorably impact margins in the Nuclear Energy Segment.