Centrus Energy to buy Westerman in $116M deal, adding key centrifuge supplier
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Centrus Energy (LEU) gained 1.8% pre-market Monday after saying it agreed to acquire Westerman Holdings, one of its largest and most diversified suppliers, for ~$116M in cash and stock.
Westerman is an existing manufacturer for centrifuge casings and other major centrifuge components for Centrus (LEU), and the acquisition supports its multi-billion-dollar expansion of uranium enrichment capacity and is expected to result in lower project costs and greater efficiencies with an integrated supply chain, the company said.
"Bringing Westerman in-house demonstrates our commitment to securing our supply chain to support our build-out while adding to our capabilities and expanding our customer base," Centrus Energy (LEU) President and CEO Amir Vexler said.
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