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Kinectrics Inks Deal to Acquire Wood’s Nuclear Americas and Romania Entities

November 06, 2017

Kinectrics will purchase Wood’s Nuclear Americas and Romania businesses in a move that will more than double the size of Kinectrics.  This move highlights the company’s continued efforts to expand and strengthen its offerings to customers in Canada and internationally. 
 
“Kinectrics and Wood’s Nuclear Americas divisions share the same origins, values and passion for technical excellence and customer service. As 1000 plus people strong, we will innovate and grow by investing in areas that help our customers operate safely, with increased output at lower overall costs,” said Kinectrics CEO, David Harris.  We will build on both organizations’ strengths - in customer relationships, great people and world-class facilities.”
 
On November 3rd 2017, Kinectrics signed a definitive purchase agreement, subject to final regulatory approval, in which Kinectrics Inc. will acquire: 
  • AMEC NSS Limited, employing about 485 staff and based in downtown Toronto, Kincardine and Pickering, provides analytical, design engineering and site support services to the Canadian nuclear industry. NSS was spun-off from Ontario Power Generation shortly after Kinectrics.
  • Amec Foster Wheeler NCL Limited, employing about 65 staff, provides field services and project management staff on an augmented staff basis. 
  • Amec Foster Wheeler AES Inc., employing about 90 staff and based in 4 offices and several remote sites across the USA, provides engineering services to the United States nuclear industry.
  • Amec Foster Wheeler Nuclear RO, SRL Romania, employing about 20 staff and based in Romania, focuses on nuclear services to the Cernavoda nuclear station. 
Wood Nuclear Americas President, John Mackinnon, said: “Through the sale process, we have worked collaboratively with David Harris and his team. Collectively and individually, we feel a future as part of Kinectrics is a good direction for our people, our customers and the industry. I look forward to joining Kinectrics as we shape our future together.“
 
Kinectrics is an integrated life cycle management services company providing testing, inspection, certification and consulting services for the electric power generation, transmission and distribution markets worldwide. Wood’s nuclear service line in North America and Romania provides project management, engineering, technical consulting and safety services focused on the civil nuclear industry. The two organizations have complementary capabilities, and together they form an organization capable of comprehensive life cycle management projects with a wider scope to meet the evolving needs of nuclear utilities in North America and CANDU reactors worldwide.
 
The combination of complementary teams will enhance Kinectrics’ nuclear portfolio in core areas. With a stronger core, and an enhanced end-to-end nuclear life cycle management offering, the combined entity will hold a stable platform for growth, a wider array of products and services, and the ability to retain a critical mass to better serve customers today and for the long term.
 
Until regulatory approval has been obtained, both businesses will continue to be owned, managed and report to current management. It is expected that the outcome of the review will be positive, and that the transaction will close in the near future.