GE Hitachi Nuclear Energy has announced its intent to acquire Columbia, South Carolina-based REI Nuclear LLC, a decommissioning technology and tooling design firm, according to a news release Monday.
The acquisition, the details of which were not disclosed, is expected to contain REI Nuclear’s business and certain assets. The sale, subject to ongoing discussions, is expected to close by the end of the year, stated the release.
“We are a global business with staff and resources across the world. The acquisition we announced today strengthens the technology capability of our business which is managed from our Wilmington headquarters," said Jon Allen, spokesman for GE Hitachi, in an email.
REI Nuclear specializes in nuclear facility decommissioning and dismantlement (D&D) projects, including activities such as preliminary design, project management, technical support and waste management.
“The acquisition strengthens our supply chain in the rapidly emerging global D&D segment,” Allen said in his email. “Decommissioning is rapidly emerging in the U.S. and Europe, and through this acquisition, we are positioning ourselves to be a leader in decommissioning projects worldwide.”
With the acquisition, plans are for the REI Nuclear's structure to remain the same, Allen said. Management of REI Nuclear, however, will transfer to Wilmington, while other resources will remain at REI’s location in South Carolina.
GE Hitachi has used REI Nuclear technology for projects, including the ongoing dismantling project at the Oskarshamn Nuclear Power Plant near Oskarshamn, Sweden, officials said in the release.
GE Hitachi announced the awarding of the three-year Swedish decommissioning contract in early 2017
, which includes dismantling two of two nuclear reactors at the power plant. The contract will continue through 2019, stated the release.
“The combination of the decades of decommissioning know-how of GEH and REI Nuclear has proven to be a highly successful project team,” said Grant Phillips, CFO of REI Nuclear, in the release. “We could not be more pleased to continue supporting GEH in nuclear plant decommissioning projects.”
As part of its business, GE Hitachi offers D&D project services.
“With REI Nuclear’s technical and project planning expertise, we will be able to increase value for our customers by further strengthening the planning and field execution of decommissioning projects,” said Lance Hall, executive vice president of GE Hitachi, said in the release.
The acquisition would further GE Hitachi's support for customers throughout the nuclear power plant lifecycle, Hall added.
The acquisition does not include REI Nuclear's subsidiary, REI Nuclear Europe Limited, Allen said. REI Nuclear Europe Limited was formed in 2015 in the United Kingdom, according to REI Nuclear's website.