Westinghouse Electric Company

Westinghouse Electric Company LLC

Company type	Private
Industry	Nuclear energy
Founded	1999
Headquarters	Cranberry Township, Pennsylvania , United States
Area served	Worldwide
Products	Nuclear fuel supply, plant maintenance, instrumentation, control systems, engineering of nuclear power facilities, AP1000 nuclear reactor
Parent	Brookfield Renewable Partners (majority), Cameco (minority)

Westinghouse Electric Company LLC is a United States-based nuclear energy firm founded in 1999, emerging from the nuclear division of the original Westinghouse Electric Corporation. It delivers a wide range of nuclear-related products and services internationally, including nuclear fuel supply, plant maintenance, instrumentation, control systems, and the engineering of nuclear power facilities. The company’s main office is located in Cranberry Township, Pennsylvania.

The company's premier offering is the AP1000, an advanced pressurized water reactor (PWR) that incorporates passive safety mechanisms and employs modular construction techniques to lower expenses and shorten build times. Currently, twelve AP1000 reactors are in operation, with plans for nineteen additional units underway.

Westinghouse’s roots trace back to when CBS Corporation divested its industrial holdings to concentrate on media ventures. In 1998, parts of the nuclear segment were acquired by Siemens, followed by a purchase by British Nuclear Fuels Limited (BNFL) in 1999, which established Westinghouse Electric. BNFL later sold the company to Toshiba in 2005.

The corporation declared bankruptcy in 2017 due to budget overruns on the Vogtle and Virgil C. Summer nuclear projects—the initial US deployments of AP1000 reactors. Subsequently, Canadian private equity firm Brookfield Business Partners acquired Westinghouse and later transferred ownership to a consortium led by Brookfield Renewable Partners (holding the majority stake) alongside Cameco, a Canadian provider specializing in nuclear fuel and services.

History

Westinghouse Electric Company was formed in 1999 following the dissolution of the original Westinghouse Electric, which had been founded by George Westinghouse in 1886. The original entity ceased operations after a series of divestitures and mergers throughout the 1990s. This included Westinghouse Electric’s acquisition of CBS in 1995 and its subsequent realignment toward media enterprises, culminating in the disposal of most non-broadcast assets by 1998 and rebranding as CBS Corporation.

In 1998, Siemens acquired Westinghouse’s Power Generation Business. The following year, CBS Corporation divested its nuclear division—Westinghouse Electric Company—to British Nuclear Fuels Limited (BNFL). The historic Westinghouse brand concluded when CBS merged with Viacom (1971–2005). Legally, Westinghouse Electric Corporation continues to exist as a licensing subsidiary under CBS Corporation.

Sale to Toshiba

In July 2005, BNFL announced its intention to sell Westinghouse, which was then valued at around $2 billion. Prominent industry participants such as Toshiba, General Electric, and Mitsubishi Heavy Industries showed interest. By January 2006, Toshiba emerged as the successful bidder with an offer of $5.4 billion. The transaction was completed in October 2006, resulting in Toshiba acquiring a 77% ownership stake, The Shaw Group holding 20%, and Ishikawajima-Harima Heavy Industries Co. Ltd. (IHI) obtaining 3%.

This acquisition took place amid forecasts predicting significant expansion in global nuclear power markets—particularly within China, the United States, and the United Kingdom. Although some industry observers questioned BNFL’s decision to divest a key nuclear reactor manufacturer ahead of this anticipated growth, strategic factors such as commercial risks in Asia and potential conflicts related to UK nuclear projects influenced the sale.

In August 2007, Toshiba sold a 10% interest to Kazatomprom—the national uranium company of Kazakhstan—for $540 million; this shareholding was passive without board representation. By 2011, Toshiba negotiated the purchase of Shaw’s entire 20% stake for $1.6 billion, raising its ownership to 87% by January 2013. This acquisition was partly driven by currency exchange impacts on Shaw’s yen-denominated liabilities. Toshiba also expressed willingness to welcome additional investors to support Westinghouse’s expansion plans.

These successive transactions underscore Toshiba’s strategic commitment to broadening its nuclear energy portfolio and reinforcing its position within the global nuclear sector.

Relocation to Cranberry Township, Pennsylvania

Westinghouse shifted its global headquarters from the Energy Center located in Monroeville, Pennsylvania to the Cranberry Woods area within Cranberry Township, Butler County, Pennsylvania in response to the swift growth of the international nuclear sector. The construction phase commenced in July 2007, with the transition finalized between June 2009 and December 2010.

The Repair, Replacement and Automation Services (RRAS) division transitioned earlier, completing its move by spring 2008 to alleviate space limitations at the Monroeville site. Additionally, Westinghouse trialed a shuttle service for commuters traveling between Monroeville and Cranberry Township, which was discontinued following the sale of the Monroeville facility in 2012.

Accounting Challenges in 2015

In 2015, issues surfaced regarding inflated valuations of assets and goodwill at Westinghouse. After Toshiba's accounting scandal resulted in the CEO’s resignation, the company asserted that Westinghouse had shown increased profitability since its acquisition in 2006.

By December 2016, Toshiba projected a $2.5 billion impairment charge against its Westinghouse investment due to budget overruns on nuclear projects in the United States, potentially reducing the investment’s value below zero.

In February 2017, Toshiba revealed a $3.4 billion loss mainly attributed to Westinghouse’s U.S. nuclear operations, culminating in a total write-down of $6.3 billion. This was followed by delays in financial disclosures and the resignation of Toshiba chairman Shigenori Shiga—who had previously chaired Westinghouse. Subsequently, Toshiba explored options for divesting its nuclear business unit.

Chapter 11 Bankruptcy Filing in 2017

On March 29, 2017, Westinghouse filed for Chapter 11 bankruptcy protection amid Toshiba reporting an annual loss that could surpass $9 billion—nearly triple earlier forecasts.

The financial setbacks were primarily linked to constructing four AP1000 reactors at Vogtle in Georgia and the Virgil C. Summer Nuclear Generating Station in South Carolina. The bankruptcy cast doubt on the completion of these reactors. By July 2017, co-owners of the V.C. Summer facility announced halting the project. Subsequent investigations uncovered that Westinghouse had used unlicensed personnel to draft mechanical and electrical designs for the V.C. Summer expansion without approval from licensed professional engineers, violating state regulations and causing major delays. The U.S. government had backed these projects with $8.3 billion in loan guarantees.

Although Westinghouse’s fuel fabrication segment remained profitable, it was insufficient to offset corporate expenses or sustain other divisions. Moreover, limited funding for research and development within fuel manufacturing impacted product quality and competitiveness, exacerbating financial difficulties.

2018 Acquisition by Brookfield Business Partners

On April 6, 2018, Toshiba finalized the sale of Westinghouse’s holding company to Brookfield Business Partners, a branch of Canadian investment firm Brookfield Asset Management Inc., along with partners, for $4.6 billion.

Sale to Brookfield Renewable Partners and Cameco

In October 2022, Brookfield Renewable Partners, a subsidiary under Brookfield Asset Management, together with Cameco, revealed plans to acquire Westinghouse Electric from Brookfield Business Partners for $7.9 billion, including assumed debt. Brookfield Renewable and its associates obtained a 51% ownership share, while Cameco holds the remaining 49%. This transaction was finalized in November 2023.

Timeline

• 1999: Westinghouse Electric Company was established as the nuclear power division of British Nuclear Fuels Limited.
• 2000: BNFL expanded Westinghouse by acquiring ABB’s nuclear power segment and merging it into the company.
• 2004: Westinghouse submitted bids for two reactor projects in China; the US Export-Import Bank approved loan guarantees totaling $5 billion.
• 2006: Purchased PaR Nuclear/Ederer Nuclear Cranes; ownership transferred from BNFL to Toshiba.
• 2007: Secured a contract with China National Nuclear Corporation to supply four AP1000 reactors involving technology transfer; acquired IST Nuclear (South Africa), Carolina Energy Solutions, Aggressive Equipment, Construction Institute of America, Carolina United Services, and French engineering firm Astare.
• 2009: Bought Japan’s Nuclear Fuel Industries for $100 million and acquired CS Innovations, LLC, a supplier of instrumentation.
• 2010: Made investments in Sheffield Forgemasters’ forging press in the UK; took a controlling interest in Springfields Fuel Limited; moved headquarters to Cranberry Township, Pennsylvania.
• 2012: Reduced workforce by 200 employees due to the Fukushima disaster’s aftermath, Germany’s energy policy changes, and decreased gas prices.
• 2014: Added Italian manufacturer Mangiarotti to its portfolio.
• 2015: Acquired CB&I Stone & Webster; Toshiba disclosed an accounting scandal involving inflated profits.
• 2017: Filed for Chapter 11 bankruptcy protection.
• 2018: Purchased by Brookfield Business Partners and affiliated investors.
• 2019: Integrated Canadian engineering company NA Engineering Associates.
• 2020: Acquired U.K.-based Inspection Consultants Limited (InCon) and Rolls-Royce’s nuclear services division.
• 2021: Added Canadian firm Laveer Engineering; secured a 50% stake in Tecnatom.
• 2022: Completed acquisition of BHI Energy.
• 2023: Brookfield Renewable Partners and Cameco finalized their purchase; completed full ownership of Tecnatom.

CEOs

• Charles W. Pryor Jr., 1997 – July 1, 2002
• Steve Tritch, July 1, 2002 – July 1, 2008
• Aris Candris, July 1, 2008 – March 31, 2012
• Jim Ferland, April 1–3, 2012 (2 days)
• Shigenori Shiga, April – September 2012 (interim)
• Danny Roderick, September 2012 – June 2016
• José Emeterio Gutiérrez, June 2016 – July 31, 2019
• Patrick Fragman, August 19, 2019 – March 31, 2025
• Dan Sumner, April 1, 2025 – present (interim)

Association with Paramount Global

Though Westinghouse Electric Company LLC is no longer connected to CBS Corporation (now Paramount Global), it continues to license trademarks owned by Westinghouse Electric Corporation, which is overseen by Paramount’s brand management division. In 2021, ViacomCBS divested the Westinghouse licensing business along with its trademarks to the independent Westinghouse Electric Corporation.

Next-generation reactors

A resurgence of interest in nuclear energy during the late 1980s prompted Westinghouse to create the AP600 reactor, which successfully obtained approval from the NRC. This design was subsequently expanded into the larger AP1000 model in 1999, marking it as the first Generation III+ reactor to receive final design certification from the NRC in 2004. By 2014, China was constructing four AP1000 units, although their initial startup was postponed from November 2013 to December 2014.

In 2013, safety concerns were raised by Li Yulun, former vice-president of China National Nuclear Corporation, who highlighted unproven design features and questioned Westinghouse’s assertion that critical components would require no maintenance throughout the reactor’s 60-year operational period. Nevertheless, by 2019 all four Chinese AP1000 reactors had become fully operational.

By January 2009, six AP1000 reactors had been ordered within the United States, with plans for a minimum of fourteen units across various utilities such as NuStart Consortium, Duke Power, and Southern Nuclear. However, following the Fukushima disaster in 2011, US regulatory authorities identified deficiencies in the reactors’ shield building designs. NRC chairman Gregory Jaczko criticized Westinghouse for incomplete seismic stress evaluations and demanded corrective actions and detailed explanations. Westinghouse defended its position by stating these issues did not compromise safety.

In November 2011, the AP1000 Oversight Group outlined six critical safety issues requiring thorough NRC examination and advised postponing certification until these were addressed. Similarly, the UK’s Office for Nuclear Regulation reported 51 unresolved matters in its December 2011 assessment of the design.

In October 2013, US Energy Secretary Ernest Moniz announced a bilateral agreement under which China would supply components for American nuclear plants. Since acquiring AP1000 technology in 2006 through State Nuclear Power Technology Co (SNPTC), China has built a manufacturing supply chain supporting global projects. Industry experts noted that gaps persist within this supply chain, affecting market penetration and commercial expansion.

eVinci microreactor

In 2024, Westinghouse received US federal funding to advance front-end engineering and experimental design (FEEED) for its eVinci microreactor. The Department of Energy approved its Preliminary Safety Design Report (PSDR) in 2025—the first microreactor to reach this milestone. Testing is scheduled to commence in 2026. The eVinci is a TRISO-fueled, heat pipe-cooled microreactor generating 5 MWe with a core engineered to operate at full power for eight or more years without refueling. Manufactured in factories and transportable by container, the test version operates at 3 MWt to validate key design features and is undergoing trials at Idaho National Laboratory.

Europe

Westinghouse Electric Company fully owns multiple subsidiaries across Europe, including the European Service Center located in Nivelles, Belgium, which handles equipment preparation for projects continent-wide. After acquiring ABB Reaktor in Germany (1990), radiological storage operations were centralized at Nivelles. This facility expanded several times to support growing activities and absorbed staff from Brussels. By 2011, around 200 employees were based there.

In 2001, Westinghouse purchased Logitest in Les Ulis, France—one of three companies certified to inspect steam generator plants operated by Électricité de France. Following partial liberalization of the French market in 2004, Westinghouse broadened its service portfolio with a team established in Metz focusing on repairs, replacements, and automation solutions. By 2005, the workforce in France numbered approximately 160 employees; fuel supply represented two-thirds of business volume. Westinghouse Electrique France operates facilities in Orsay and Manosque near Marseille dedicated to engineering development and employed about 400 people as of 2014.

The company also owns a nuclear fuel fabrication facility in Västerås, Sweden that produces fuel assemblies for Russian VVER-1000 reactors. Beginning around 2000, Westinghouse expanded fuel offerings targeting Finland and Hungary with support from Export–Import Bank financing; however, competition from lower-cost Russian suppliers hindered growth. A contract secured in 2008 to provide VVER-1000 fuel encountered difficulties due to fuel deformation during trial operation.

In 2015, a consortium led by Westinghouse received $2 million in funding from the European Union to develop competitive fuel solutions for Russian-designed reactors. The existing VVER fuel supply contract was extended through 2025. Additionally, under EU sponsorship in 2018, Westinghouse commenced development of VVER-440 reactor fuel.

In October 2022, Westinghouse was chosen to construct Poland’s inaugural nuclear power station featuring three AP1000 units with plans for potential expansion by three further reactors.

Westinghouse also maintains business activities throughout Italy, Germany, Spain, the United Kingdom, Russia, and Bulgaria.

Asia

Since 1972, Westinghouse has been instrumental in advancing South Korea's nuclear sector, beginning with its involvement in the Kori Nuclear Power Plant in 1977 and extending support to eight reactors being built during the 1980s. The company, through Combustion Engineering (now part of Westinghouse), engaged in a technology transfer partnership with the Korean nuclear industry for ten years, which was further extended in 1997 to promote greater technological independence.

In December 2006, China's State Nuclear Power Technology Company (SNPTC) chose Westinghouse to provide four AP1000 nuclear reactors. The first facility, initially planned for completion in 2013, experienced a postponement and was rescheduled to late 2014.

On 7 June 2016, India’s Nuclear Power Corporation awarded Westinghouse a contract to initiate engineering and site design work for six reactors, with intentions to finalize the agreement by June 2017.

Africa

Westinghouse has been involved with South Africa's Koeberg Nuclear Power Station since the 1990s, where both reactors operate under Westinghouse licensing. In 2007, Westinghouse acquired IST Nuclear (Pty) Ltd and later, in 2013, entered into a Memorandum of Understanding with Sebata Group to explore the development of potential AP1000 plants. IST Nuclear focuses on providing services and systems related to pebble-bed reactor technologies.