US group buys SA nuclear firm
6 November 2007
United States-based nuclear technology group Westinghouse Electric Company, a group company of Toshiba Corporation, has announced the acquisition of South African firm IST Nuclear.
Westinghouse launched its newly acquired South African operation on Monday under the name Westinghouse Electric South Africa. The value of the transaction has not been disclosed.
IST Nuclear is a leading provider of services and systems for South Africa's Pebble Bed Modular Reactor (PBMR) project. "Westinghouse has long been a proponent of the PBMR, and this acquisition will allow us to become even more involved as PBMR moves toward commercialization," Nick Liparulo, vice-president of engineering services for Westinghouse, said in a statement.
At the same time, Westinghouse views South Africa as a promising market for its particular brand of nuclear power plant, a third-generation pressurised water reactor system known as the the AP1000.
In September, state-owned power supplier Eskom said it had short-listed Westinghouse, along with French nuclear giant Areva, as potential builders of South Africa's second nuclear power plant.
According to Engineering News, Eskom has set 30 June 2015 as the date by which it wants to have its first new nuclear reactor up and running by. The state supplier has indicated that it is looking to build as many as five new nuclear power stations by 2025.
Rita Bowser, Westinghouse's regional vice president for SA, said the IST Nuclear acquisition illustrated Westinghouse's commitment to the South African nuclear market.
"The ability to work with a respected local company will allow Westinghouse to better serve this important market both now and in the future," Bowser said. "Clearly, we are even better positioned to help South Africa meet the critical demand for clean, safe and reliable energy in the coming decades."
IST Nuclear was instrumental in the early development of the Pebble Bed Modular Reactor, working with Eskom and US-based investors including Westinghouse. More recently, IST Nuclear supplied a helium test facility for the PBMR. The company is also under contract to design key systems for a PBMR demonstration unit to be built at Koeberg, SA's only nuclear plant, by 2011.
Westinghouse supplies nuclear plant products and technologies to utilities around the world. According to the company, its technology is the basis for approximately one-half of the world's operating nuclear plants, including 60% of those in the US.
SAinfo reporter
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