2 firms plan to acquire Westinghouse Electric Co.
A new partnership will see two companies acquire Westinghouse Electric Co. from its current owner, Brookfield Business Partners.
According to the Associated Press, Cameco of Saskatoon, Canada, will join Brookfield Renewable to acquire the company, which is headquartered in Cranberry Township.
The transaction brings Westinghouse’s clean power technologies under Brookfield Renewable’s hydroelectric, wind, solar, energy storage and distributed generation portfolio, and alongside Cameco’s expertise in front-end uranium fuel capabilities.
“This is the start of an exciting new chapter for the Westinghouse team and for nuclear power,” said Patrick Fragman, president and CEO of Westinghouse.
When the transaction is finalized, Brookfield will own 51% and Cameco 49% of the company.
The acquisition of Westinghouse is expected to close in the second half of 2023, subject to closing conditions and approvals.
Dan Santoro, Cranberry Township manager, said Thursday he does not expect any changes to the campus off Cranberry Woods Drive.
