Rolls-Royce signs agreement to sell North American civil nuclear services businesses to Westinghouse Electric Company
26 September 2019
Rolls-Royce has signed an agreement to sell our North American civil nuclear services businesses to Westinghouse Electric Company. This follows a review of options for the businesses and continues our drive to simplify the Group and focus on meeting the vital power needs of our customers.
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 our 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 our 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.”
In 2018, the businesses subject to the agreement reported revenues of USD 70 million with ~500 employees, which were consolidated within the results of our Power Systems business unit.
About Rolls-Royce Holdings plc
Rolls-Royce pioneers cutting-edge technologies that deliver clean, safe and competitive solutions to meet our planet’s vital power needs.
Rolls-Royce has customers in more than 150 countries, comprising more than 400 airlines and leasing customers, 160 armed forces, 70 navies, and more than 5,000 power and nuclear customers.
Annual underlying revenue was £15 billion in 2018, around half of which came from the provision of aftermarket services.
In 2018, Rolls-Royce invested £1.4 billion on research and development. We also support a global network of 29 University Technology Centres, which position Rolls-Royce engineers at the forefront of scientific research.
The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills.
