Rolls-Royce Plc confirmed it had completed the sale of its civil nuclear services business, mainly North America, to Westinghouse Electric Co. The sale also includes businesses in Mondragon, France, and Gateshead, England, which had been part of the Rolls-Royce Power Systems business unit.
The sale does not include a civil nuclear power instrumentation and controls business based in Grenoble, France, which Rolls noted is still under review. Nor does it include nuclear plant building or small modular reactor businesses in the U.K. Rolls emphasized that these operations "will continue contributing to the provision of low-carbon power for the U.K."
The value of the sale has not been revealed.
Rolls and Westinghouse agreed to the sale in September 2019. The sale is a part of Rolls’ ongoing review of strategic options for its various business units, and of an effort to simplify the group structure "and focus on meeting the vital power needs of our customers."
According to Westinghouse president and CEO Patrick Fragman, speaking last fall, the Rolls-Royce businesses will “strengthen our ability to serve the nuclear operating fleet through an expanded presence in our core business, while adding new digital offerings.”