Fort Worth-based AZZ Inc. announced Jan. 20 it will not sell its Nuclear Logisits LLC operating business unit to Westinghouse Electric Company. Instead, the two companies announced a collaborative teaming agreement to jointly market their safety-related equipment solutions to the nuclear industry,
“Both parties made significant progress but it became apparent that the market needed us to focus on building our heritage businesses,” said Tom Ferguson, CEO of AZZ. We are confident that this alliance represents the most effective and expeditious path forward. We are pleased to move forward on an agreement that leverage’s Westinghouse’s OEM strength and NL’s aftermarket capabilities to offer our customers a higher level of service and solutions. We believe this will be a mutually beneficial agreement for both parties.”
Nuclear Logistics LLC., a wholly owned subsidiary of AZZ, is the largest third-party supplier of safety related equipment to the nuclear industry and has more than 180 employees that are knowledgeable in areas such as nuclear qualification and testing.
“NL’s transition from a small, owner-led company to a professional, highly talented and profitable enterprise is continuing on course,” said Ferguson. “We look forward to NL’s contribution within our portfolio and will further challenge our management team to refine our processes and grow the business.”