May 3, 2018 — BWX Technologies Inc. signed a definitive agreement to acquire Sotera Health’s Nordion medical isotope business. The acquisition accelerates and de-risks BWXT’s entry into the medical radioisotope market by adding licensed infrastructure, approximately 150 highly trained and experienced personnel, and two production centers to BWXT.
BWXT is a supplier of nuclear components and fuel to the U.S. government, also providing technical and management services in the operation of complex facilities and environmental remediation activities. The company also supplies precision manufactured components, services and fuel for the commercial nuclear power industry.
Nordion’s medical radioisotopes business is a global manufacturer and supplier of critical medical isotopes and radiopharmaceuticals for research, diagnostic and therapeutic uses. Its customers include radiopharmaceutical companies, hospitals and radiopharmacies. Its primary operations are located in Kanata, Ontario and Vancouver, British Columbia.
In conjunction with the closing of the Nordion medical isotope acquisition, BWXT expects to reduce capital expenditures by approximately $100 million, before acquisition costs. The company now expects capital expenditures of approximately $150 million in 2018.
Subject to required Canadian and U.S. regulatory reviews and approvals, the acquisition of Sotera Health’s Nordion medical radioisotope business is expected to close by the end of 2018.
For more information: www.nordion.com