RISLEY-based BNFL and its American partner Morrison Knudsen have bought out US nuclear giants Westinghouse in a deal worth around £700 million.

BNFL has gone from strength to strength in America since it set up its subsidiary BNFL Inc, an environmental clean-up company, in 1990. This will continue to be managed as a separate entity focusing on large scale US Government projects.

As the companies signed the final agreement for the purchase of Westinghouse in New York, BNFL Chief Executive John Taylor said: "This deal will transform BNFL into a global nuclear company.

"We already have a strong and reputable clean-up business in the US led by BNFL Inc and by taking over the well-established Westinghouse nuclear services business brings a whole new dimension to our global strategy."

A new structure has been agreed for the 112-year-old Westinghouse company which will consist of three separate businesses.

Westinghouse Electric Company will be 100 per cent owned by a BNFL subsidiary called BNFL Nuclear Services Inc (BNSI), Westinghouse Government Environmental Services Company will handle the company's non-defence related business and will be jointly owned and managed by BNSI and Morrison Knudsen and Westinghouse Government Services Company, the business's defence related company will be 100 per cent owned by Morrison Knudsen, but BNFL will hold a 40 per cent economic interest.

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