US nuclear fuel company Centrus Energy has acquired Westerman Holdings, a major supplier of components for its uranium enrichment centrifuges, for about $116m (€103m), a statement said.
Centrus said the acquisition was financed through about $95m in cash and $21m in equity.
Westerman manufactures centrifuge casings and other major components for Centrus and is one of the company’s largest suppliers.
Centrus said bringing the manufacturing business in-house would improve its supply chain and support a previously announced multibillion-dollar expansion of US-based uranium enrichment capacity.
The company said expects the acquisition to reduce project costs and improve manufacturing efficiency through closer integration of its supply chain.
Westerman has about 400 employees and operates four manufacturing facilities in Ohio, Oklahoma and Wyoming. In addition to centrifuge components, the company manufactures nuclear-grade products, including uranium hexafluoride (UF6) cylinders, and equipment for the oil and gas and other industrial sectors.
Centrus said the acquisition would also diversify its revenue beyond nuclear fuel services through Westerman’s existing non-nuclear customers.
Westerman has become a Centrus subsidiary and will continue operating under its existing name.
Centrus won a contract from the US Department of Energy in 2019 to build a cascade of advanced centrifuges at its Piketon enrichment plant in Ohio to demonstrate Haleu production with US technology. The first new capacity is expected to come online at Piketon by 2029.
