Power Group Online Article |  | |
25 July 2006 -- Westinghouse Electric Co. today announced that it has completed the purchase of the minority interest in its fuel handling equipment and outage critical cranes subsidiary, PaR Nuclear. With this purchase, Westinghouse has 100-percent ownership of PaR Nuclear. Westinghouse had purchased a controlling, 81-percent interest in PaR Nuclear in May 2004.
"This step in our acquisition process is strategic for Westinghouse and its customers in that it allows us to take advantage to integrate fully our field operations and engineering expertise in a number of areas," said Ric Pérez, vice president, Westinghouse Field Services. Those areas include:
- Modifications and Upgrades of Fuel Handling Equipment and Outage Critical Cranes
- Integrated Products—Inspection, Refueling Services
- Pool to Pad—Dry Cask Loading and Handling
- New Nuclear Plant (AP600, AP1000) —Fuel Handling Equipment & Outage Critical Cranes
"From PaR Nuclear's perspective, we will have an opportunity to integrate more fully with Westinghouse's structure, processes and initiatives," said Greg Hott, president, PaR Nuclear. "We expect the transition to full ownership to be seamless and flawless."
Westinghouse said there will be no impact on PaR Nuclear's organization or leadership team as a result of this step of the acquisition process.
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