Framatome has announced an agreement with Schneider Electric to acquire its nuclear automation business. The two companies recently signed an asset purchase agreement that outlines the terms of the sale, which is expected to close before the end of the first quarter of 2018.
The acquisition expands Framatome's instrumentation and control (I and C) offerings. These systems are the central nervous system of a nuclear power plant allowing operators to control reactor operations. Modernizations, upgrades and ongoing support, are vital to manage economic long-term operation of nuclear power.
More than 80 safety I and C systems have been installed by Framatome on 44 reactors in 17 countries across the world, and approximately 250 automation systems have been installed or are being installed by Schneider Electric.
The agreement between Framatome and Schneider Electric also creates a long-term manufacturing partnership, which gives customers I and C options based on a comprehensive global technical expertise and market knowledge.
"This is an exciting time of growth for our company, and the acquisition and partnership with Schneider Electric build on our long history of providing nuclear operators with both digital and analog I and C solutions," said Gary Mignogna, president and CEO of Framatome Inc.
"With this acquisition, we will provide long-term support for our customers' systems and serve as the original equipment manufacturer for their I and C upgrades and modernizations."
Framatome nuclear fuel contract with CNNC
Within the framework of French President Emmanuel Macron's visit to China in the company of a business delegation, Framatome's CEO Bernard Fontana signed a protocol for the development of a global strategic cooperation with CNNC's Chairman Wang Shoujun. This protocol is to set up basis for future strategy and long-term cooperation between the two companies.
Under the terms of this protocol … read more
