BWX Technologies, Inc. (BWXT) Completes $525M Acquisition of Kinectrics
BWX Technologies, Inc. (NYSE:BWXT) announced on Wednesday that it had completed the acquisition of Kinectrics, a leading service provider to the global nuclear market, in a move that is set to boost its nuclear and isotope capabilities.
Kinetrics offers a wide range of nuclear power plant lifecycle support services, including expertise in CANDU reactors and solutions for the global nuclear power industry, distribution and transmission markets, and the production of isotopes for the radiopharmaceutical industry.
An aerial view of a nuclear plant, its domes casting a unique shadow.
Following the acquisition, Kinectrics will operate as a subsidiary of BWX Technologies, Inc. (NYSE:BWXT), which will nearly double the company's Commercial Operations group workforce and expand its portfolio of offerings for new and existing customers.
The combining of both companies' strengths is also expected to enhance BWX Technologies, Inc. (NYSE:BWXT)'s overall capabilities across the board. John MacQuarrie, the President of Commercial Operations at BWXT, shared the following remarks on the strategic integration:
'From the commercial nuclear power market to medical isotopes, we are enhancing our capabilities across the board, supporting a growing nuclear new build and life extension industry in Canada and strengthening BWXT's position in the global nuclear market.'
BWXT has surged by over 21% in the past 12 months.
While we acknowledge the potential of BWXT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BWXT and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: ChatGPT Stock Advice: Top 12 Stock Recommendations and 10 Cheap Rising Stocks to Buy Right Now.
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