Westinghouse in Agreement to Acquire Astare
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o French Engineering Company Further Expands Westinghouse Scope
o Part of Ongoing Effort to Better Serve Worldwide Nuclear Industry
PITTSBURGH, Sept. 25 /-- Westinghouse Electric Company today announced it has reached agreement to acquire Astare, a French nuclear engineering company headquartered near Paris.
Terms were not disclosed. Closing is scheduled for October 11.
The acquisition of Astare, which also operates out of offices in Marseille and Lyon, further expands Westinghouse's capabilities to serve the worldwide nuclear power industry. The announcement comes just two months after Westinghouse said it would acquire IST Nuclear, a leading provider of nuclear services and systems in the Republic of South Africa.
In announcing the acquisition of Astare, Nick Liparulo, vice president of engineering for Westinghouse, said, "The nuclear power industry is truly global. This acquisition will better enable Westinghouse to provide engineering support and project management services in the very important French market. It also brings approximately 100 additional highly skilled employees to Westinghouse, which is important as we prepare for the significant growth our industry will soon experience."
Mr. Liparulo also said that Astare will continue to operate as Astare, and that all employees will be retained.
Westinghouse, a group company of Toshiba Corporation, is the world's pioneering nuclear power company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world's first Pressurized Water Reactor in 1957 in Shippingport, Pa. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants, including 60 percent of those in the United States.
Source: Westinghouse Electric Company
CONTACT: Vaughn Gilbert of Westinghouse Electric Company,
+1-412-374-3896, gilberhv@westinghouse.com
Web site: http://www.westinghousenuclear.com/
