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Article: Westinghouse to Acquire Nuclear Fuel Industries Ltd.

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PR Newswire
Article date:
April 30, 2009
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- Integrated nuclear fuel company to operate as Westinghouse subsidiary

PITTSBURGH, April 29 /PRNewswire/ -- Westinghouse Electric Company announced today the signing of a share transfer agreement with Furukawa Electric Co., Ltd. and Sumitomo Electric Industries, Ltd., under which Westinghouse Electric UK Limited will acquire a combined 52 percent stake in Nuclear Fuel Industries, Ltd. (NFI), Japan's sole producer of nuclear fuel for both boiling-water and pressurized-water reactors.

The acquisition, at an approximate cost of $100 million, is expected to be finalized in May.

"The acquisition of NFI will significantly enhance Westinghouse's ...

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