Westinghouse Acquisition to Expand Nuclear, Oil and Gas Business
Westinghouse Electric Company LLC today announced its intent to purchase 100
percent ownership of Mangiarotti S.p.A., an Italy-based manufacturer of
components for the nuclear, oil and gas industries.
PITTSBURGH, July 2, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Westinghouse Electric
Company LLC today announced its intent to purchase 100 percent ownership of
Mangiarotti S.p.A., an Italy-based manufacturer of components for the nuclear,
oil and gas industries. Terms were not disclosed, although the sale is
expected to be completed by early August.
Headquartered in Sedegliano, Italy, Mangiarotti has engineered, designed and
manufactured a comprehensive line of products during its more than 80-year
history. Of primary interest to Westinghouse is expanding into the oil and gas
market as well as additional manufacturing of reactors, pressure vessels,
modules, and heat exchangers used in the nuclear energy industry and the
growing AP1000® reactor market.
In commenting on the pending acquisition, Westinghouse President and CEO Danny
Roderick said "Our continued successful manufacturing expansion like
Mangiarotti allows us to be a broader global provider in all energy fields. We
are excited about the potential of the combined talents at Mangiarotti and
Westinghouse to further serve our existing customers and to grow new ones."
Westinghouse will continue operations of Mangiarotti in the Monfalcone and
Pannellia facilities in Italy. Since 1993, the company has been certified to
satisfy the quality assurance requirements of ISO 9001 - the world's most
widely used quality management system standard. The company has built
processing equipment for other industries, including autoclaves, columns,
towers, drums, separators, splitters, strippers; and has manufactured
condensers, coolers and boilers.
Rick Gabbianelli, Westinghouse Senior Vice President of Global Strategy and
Operations Support said: "Mangiarotti is an important and long-term supplier
to Westinghouse, providing components for the nuclear plants we are building
and servicing around the world. Incorporating the depth of this company into
our supply chain is another example of our unwavering commitment to make the
strategic supply investments that will further improve our ability to serve
Westinghouse Electric Company, a group company of Toshiba Corporation
(TKY:6502), is the world's pioneering nuclear energy 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., U.S. Today, Westinghouse technology is the basis
for approximately one-half of the world's operating nuclear plants, including
more than 50 percent of those in Europe. AP1000 is a trademark of Westinghouse
Electric Company LLC. All rights reserved.
This article was originally distributed on PRWeb. For the original version
including any supplementary images or video, visit
CONTACT: Westinghouse Electric Company
Press spacebar to pause and continue. Press esc to stop.