Westinghouse Buys CB&I ($CBI)Division to Beef Up Its Nuclear Business
2015-10-29
Westinghouse Electric Co. is moving to shore up its nuclear-power business by buying out a construction partner it has blamed for problems at the four reactors now being built in the U.S.
The company said it would pay $229 million to buy the nuclear construction division of Chicago Bridge & Iron Co. [stckqut]CBI[/stckqut] Westinghouse and CB&I had been equal partners in building the massive reactors that Westinghouse designed.
Source: Westinghouse Buys CB&I Division to Beef Up Its Nuclear Business