Local PBMR-supplier finds US buyer
Local PBMR supplier finds US buyer
US group to buy PBMR-supplier IST Nuclear
Nuclear technology group Westinghouse Electric Company has agreed to buy IST Nuclear (ISTN), a provider of services and systems for the Pebble Bed…
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By: Mariaan Olivier
Published: 10 Aug 07 – 0:00
Nuclear technology group Westinghouse Electric Company has agreed to buy IST Nuclear (ISTN), a provider of services and systems for the pebble-bed modular reactor (PBMR), to grow its capabilities in the South African nuclear market, it announced last month.
The sale, contingent on approval from South Africaâ€™s Competition Commission, was likely to be completed this month and would see ISTN operating under the name Westinghouse Electric South Africa.
Vice-president of Westinghouse engineering services Nick Liparulo commented that the acquisition of ISTN would allow Westinghouse to become more involved in the PBMR as it moved toward commercialisation.
â€œWe intend to expand ISTNâ€™s scope to include working with Westinghouse in servicing existing light water reactors in South Africa and elsewhere,â€ he added.
Rita Bowser, Westinghouse regional vice-president for South Africa, said the ISTN acquisition would allow the company to better serve the local nuclear market.
â€œWe are even better positioned to help South Africa meet the critical demand for clean, safe and reliable energy.â€
Westinghouse also said that South Africa was a promising market for the AP1000, its third-generation PWR system.
The company said that it would promote AP1000 systems, to assist in meeting the countryâ€™s fast- growing demand for electricity.
Westinghouse technology is the basis for about a half of the worldâ€™s operating nuclear plants, including 60% of those in the US and 100% in South Africa.
Edited by: Laura Tyrer