American nuclear reactor manufacturer Westinghouse Electric Co., a company of the Japanese Toshiba Corp. group, announced on Tuesday that it has reached an agreement to acquire the French nuclear engineering company Astare.
The terms of the agreement, which is expected to be finalized on October 11, have not been disclosed. "This acquisition will enable Westinghouse to provide better engineering support and project management services in the critically important French market," said Nick Liparulo, Vice President of Engineering at Westinghouse. This agreement is expected to help Westinghouse prepare for anticipated global growth in the industry, further stated the company’s announcement, which was published by the Japanese electronics manufacturer.
Astare, headquartered near Paris with offices in Marseille and Lyon, will continue to operate as Astare, and its approximately one hundred employees will be retained, Liparulo further emphasized. Toshiba, headquartered in Tokyo, holds a 77% stake in Westinghouse, based in Monroeville, Pennsylvania, which it acquired last year for $4.2 billion from British Nuclear Fuels. (H)
