Hitachi-GE JV to Buy U.S. Reactor Decommissioning Firm

Economy

New York, Dec. 10 (Jiji Press)--GE Hitachi Nuclear Energy, a joint venture between Japan's Hitachi Ltd. <6501> and U.S. conglomerate General Electric Co., said Monday that it will buy U.S. reactor decommissioning company REI Nuclear LLC.

The acquisition price was not disclosed.

Through the move, GE Hitachi, which designs and constructs nuclear reactors, aims to meet growing demand for nuclear reactor decommissioning work in the world.

Procedures for the acquisition are expected to be completed by the end of this month.

REI Nuclear, established in 2013, has sophisticated expertise in the designing of reactor decommissioning projects and in nuclear waste management.

[Copyright The Jiji Press, Ltd.]

Jiji Press