Framatome has announced that it has reached an agreement with Schneider Electric to acquire its automation business. The two companies recently signed a purchase agreement specifying the terms of the sale, which is expected to close before the end of the first quarter of 2018.
This acquisition expands Framatome's offering of instrumentation and control (I&C) systems. These solutions form the nervous system of a nuclear power plant, enabling operators to control the operation of a reactor. Modernization, upgrades and ongoing support are essential to manage the long-term economic operation of nuclear power. More than 80 safety control systems have been installed by Framatome on 44 reactors in 17 countries, and nearly 250 automation systems have been installed or are being installed by Schneider Electric.
This agreement between Framatome and Schneider Electric also establishes a long-term manufacturing partnership, offering customers I&C options based on comprehensive technical expertise and market knowledge.
" This is an exciting period of growth for our company, and the acquisition and partnership with Schneider Electric are based on our long experience as suppliers of digital and analog control solutions to nuclear operators. "said Gary Mignogna, President and CEO of Framatome Inc. With this acquisition, we will be able to provide long-term support for our customers' systems, and act as their original equipment manufacturer for their control modernization campaigns. "
Learn more: https://www.framatome.com/