Tuesday, July 7, 2020

Rolls-Royce signs agreement to sell civil nuclear services businesses

Rolls-Royce has signed an agreement to sell its North American civil nuclear services businesses to Westinghouse Electric Company. This follows a review of options for the businesses and continues Rolls-Royce’s drive to simplify the Group.

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 Rolls-Royce’s 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 Rolls-Royce’s UK nuclear new build operations or small modular reactor activities, which will continue contributing to the provision of low carbon power for the UK.

Warren East, Rolls-Royce Chief Executive, said: “Our North America services business offers great opportunities for Westinghouse as a leading player in the nuclear energy industry. We believe this transaction represents the best outcome for this part of our civil nuclear operations and its people.”

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