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BWX Technologies closes purchase of GE Hitachi Nuclear Energy Canada

BWX Technologies Inc. subsidiary BWXT Canada Ltd. closed its purchase of GE Hitachi Nuclear Energy Canada Inc.

Rebranded as BWXT Nuclear Energy Canada Inc. and now a subsidiary of BWXT Canada, the acquired company will remain in its current location, in Peterborough, Ontario, and will continue to be led by Mark Ward as president. The company supplies fuel, fuel handling systems, tooling delivery systems and replacement components for CANDU reactors.

The deal is expected to contribute to BWX Technologies' 2017 earnings, as the acquired company's operating margins compare favorably with the 10% margins of the overall BWXT Nuclear Energy division, according to a Dec. 19 news release. The terms of the transaction were not disclosed.

GE Hitachi is an alliance of General Electric Co. and Hitachi Ltd.