Competition Bureau advances an investigation into BWX Technologies' proposed acquisition of Kinectrics
BWX Technologies and Kinectrics, directly or through a joint venture or partnership, provide products and services at various stages of the medical isotope value chain.
The Bureau is investigating whether the acquisition is likely to result in a substantial lessening or prevention of competition in Canada's nuclear medicine sector. The acquisition includes Kinectrics' interest in Isogen, a company that enables the production of medical isotopes and is jointly owned with Framatome Canada.
The court orders, granted by the Federal Court of Canada, require three market participants in the nuclear medicine sector to provide information and produce records and data related to but not limited to transaction agreements, capacity, sales, and competitive dynamics. The entities receiving court orders are Bruce Power, Ontario Power Generation (OPG) and Framatome Canada.
The Bureau also issued supplementary information requests to BWX Technologies and Kinectrics.
BWX Technologies announced its plan to acquire Kinectrics on January 7, 2025.
Quick facts
Medical isotopes are used by medical professionals to diagnose and treat health conditions such as heart disease and cancer.
The Competition Bureau can issue supplementary information requests to the parties of a proposed merger within a 30-day waiting period for notifiable transactions. Notifiable transactions are those that meet certain financial thresholds and criteria defined in the Competition Act.
BWX Technologies is a publicly-traded, US-based company involved in various nuclear industries. In the nuclear medicine sector, the company processes medical isotopes and manufactures finished drug products. BWX Technologies also partners with OPG to produce medical isotopes. The company operates globally and has facilities in Ontario and an office in British Columbia.
Kinectrics is a Canada-based provider of engineering and in-plant services for nuclear facilities. It produces inputs used for medical isotopes while its joint venture, Isogen, produces medical isotopes. The company operates globally and is headquartered in Toronto, Ontario.
Isogen, a Canada-based joint venture between Kinectrics and Framatome Canada, works with CANDU reactor technology to enable the production of medical isotopes. Isogen partners with Bruce Power to produce medical isotopes for global markets.
Bruce Power and OPG operate CANDU nuclear reactors and are leading suppliers of medical isotopes used worldwide. OPG is one of North America's largest energy providers and Bruce Power is a major nuclear power provider in Ontario. Both are headquartered in Ontario and are Canada-owned.
CANDU (CANada Deuterium Uranium) reactors are Canadian-designed, pressurized heavy-water reactors that use natural uranium fuel and heavy water as a moderator and coolant. CANDU reactors are important contributors to the global supply of medical isotopes.
Framatome Canada is a subsidiary of Framatome, a France-based company that provides nuclear power products and services. Framatome operates globally in more than 20 countries.
Stay connected:
The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.
SOURCE Competition Bureau
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Global News
13 minutes ago
- Global News
TTC to sole-source contract for new Line 2 trains after green light given
The TTC has been given the green light to hand over a major contract for new trains on Line 2 to an Ontario-based company in a multi-government effort to shore up domestic production in the wake of American tariffs. Toronto's transit officials will be allowed to award a sole-source construction contract to Alstom Transport Canada for a total of 70 trains destined for the Bloor-Danforth, Yonge North and Scarborough Extensions. In a joint federal-provincial-municipal announcement, the three levels of government said the 'current competitive process for the trains has been cancelled' and bidders were notified that the city would choose the Canadian option instead. 'In the face of U.S. tariffs and economic uncertainty, this decision will support Canadian and Ontario workers with good manufacturing jobs and ensure reliable trains for Toronto transit riders,' the governments said in a news release. Story continues below advertisement Toronto is currently in the midst of an urgent procurement process to buy 55 desperately needed new cars to run on Line 2 — an expense both the federal and provincial governments are helping to pay for. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy While the city had been planning to open up bidding for the contract to all qualified companies, Transportation Minister Prabmeet Sarkaria wrote to Mayor Olivia Chow in April asking the city to change course. 'I am requesting that the City of Toronto recognize this historic opportunity and consider a sole-source procurement with Alstom, which would support Ontario workers in Thunder Bay and across our province,' Sarkaria said in the letter. The effort was part of a broader push by the provincial government to cut U.S. companies out of the supply chain in response to tariffs and threats of further economic sanctions from President Donald Trump. When the now months-long tariff battle with the United States began in the spring, Ontario Premier Doug Ford announced that his government would cancel a contract with Elon Musk's Starlink company, remove U.S. alcohol from the shelves of the LCBO and ban American companies from bidding on provincial government contracts. At the time, he urged cities to do the same. He repeated the request on Thursday after a speech in downtown Toronto. 'If we're gonna buy trains, to the best of our ability, let's buy here in Canada and preferably right here in Ontario,' he said. Story continues below advertisement In a statement, the government said that Alstom will be expected to deliver a product that's compliant with the TTC's original requirements for the trains, will maximize Canadian content and create Canadian jobs and offer a price point 'subject to an independent third-party market price assessment.' The order will be for 70 six-car train sets: 55 trains for Line 2, and 15 trains for the Yonge North and Scarborough extensions. 'The contract would include options to procure additional trains to meet future needs when funding is committed and subject to Alstom's performance,' the news release said. The TTC and Alstom will enter into negotiations over the contract over the next few months and will report back to the TTC board by the end of 2025.
Globe and Mail
13 minutes ago
- Globe and Mail
Petrolympic Announces Warrant Extension
TORONTO, Aug. 15, 2025 (GLOBE NEWSWIRE) -- Petrolympic Ltd. (TSX-V: PCQ) (the 'Company'), wishes to announce that the Company has applied to the TSX Venture Exchange (the 'TSXV') to extend the term of 3,100,000 common share purchase warrants originally issued pursuant to a private placement on September 8, 2025. Subject to the approval of the TSXV, the expiry dates of the September 2022 Warrants will be extended as follows: Number of Warrants: 3,100,000 Original Expiry Date of Warrants: September 8, 2025 New Expiry Date of Warrants: September 8, 2027 Exercise Price of Warrants: $0.10 NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. For further information, please contact: Mendel Ekstein, President and CEO Petrolympic Ltd. T: 845 656-0184 E: exis@ CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION Certain information contained or incorporated by reference in this press release, including any information regarding the proposed acquisition, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: economic and global market impacts of the COVID-19 pandemic, fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.
Globe and Mail
13 minutes ago
- Globe and Mail
Edge Expands Partnership with ABMDA, Entering New Markets
Edge, manufacturer of advanced exterior trim, siding, and interior accents, has announced an expansion of its partnership with Associated Building Material Distributors of America, Inc. (ABMDA), growing its footprint of distribution partners throughout the United States and Canada. In addition to bolstering availability in the US, this represents the brand's entrance into Canadian markets. With the regional and distribution expertise of ABMDA members, builders will enjoy enhanced support of Edge's leading product lines, including treated wood EvoTrim™, the new thermally modified siding line, ForgeWood, and upcoming innovations from the brand. Dom Beaulieu, Managing Director of Edge, emphasized the significance of this announcement, saying, 'ABMDA's strong presence in the market coupled with their dedication to excellence makes them an invaluable partner. This expansion enables us to deliver our high-performing products to a broader audience and provide additional value to our customers by addressing the demand for both service and quality.' Added Brendan Moloney, Director of Sales for Edge, 'We've seen powerful synergies between ABMDA and Edge so far in the values and practices of both organizations. We look forward to further strengthening our ties with its distributor members in the coming months.' Garry Tabor, Executive Vice President of ABMDA commented, 'Our strong relationships with suppliers provide our members with the products and services that help our customers stand out, and we're excited to add Edge as a partner that is committed to delivering superior solutions.' Edge products, namely EvoTrim, ForgeWood, and the Timeless line of ultra-smooth interior accent boards, are rolling out to ABMDA member distributors through the end of 2025. To learn more about the full product offering, visit About Edge Edge is a leading provider of trim, siding, and interior accents. Its product lines include prefinished and natural solutions such as ForgeWood thermally modified siding, the Timeless interior accent board collection, and primed, exterior-rated trim lines EvoTrim™, Premium Primed, and Primed SPF. Sourced and manufactured in North America, its high quality, convenient, and beautiful products make Edge a valued provider to building materials distributors and retailers nationwide. Edge is a brand of UFP Retail Solutions, a business segment of UFP Industries. Headquartered in Grand Rapids, Mich., with facilities throughout North America, Australia, Europe, and Asia, UFP Industries, Inc. (Nasdaq: UFPI) is a holding company whose affiliates serve the retail, construction, and industrial markets. Those affiliates are strategically positioned to deliver a wide variety of products to nationwide retailers that cater to both consumers and building professionals.
