Westinghouse Electric Company, the global leader in nuclear technology,
fuels and services, today announced the completion of its previously
announced sale to Brookfield Business Partners L.P. (NYSE:BBU)
(TSX:BBU.UN) together with institutional partners (collectively,
“Brookfield”) and emergence from Chapter 11 as a reorganized company.
Announced on Jan. 4, 2018, the transaction was closed and became
effective today.
“The close of this transaction marks an exciting milestone for
Westinghouse as we have successfully emerged from Chapter 11, and
continue to navigate a significant transformation that positions us for
long-term sustainable success. With the support of Brookfield,
Westinghouse will continue to build on its legacy of leading the nuclear
industry. Our focus is on strengthening the business, capitalizing on
our global footprint and excelling in client service and innovation,”
said Westinghouse President & CEO José Emeterio Gutiérrez.
Westinghouse Electric Company 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 commercial 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.
Brookfield Business Partners is a business services and
industrials company focused on owning and operating high-quality
businesses that benefit from barriers to entry and/or low production
costs. Brookfield Business Partners is listed on the New
York and Toronto stock exchanges. Important information may be
disseminated exclusively via the website; investors should consult the
site to access this information.
Brookfield Business Partners is the flagship listed business services
and industrials company of Brookfield Asset Management Inc. (NYSE:BAM)
(TSX:BAM.A) (EURONEXT:BAMA), a leading global alternative asset manager
with approximately $285 billion of assets under management, of which
approximately $150 billion are in the U.S. For more information, please
visit our website at https://bbu.brookfield.com.
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