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News Breaks | | | | January 24, 2013 | | 16:32 EDT |  | USU | USEC to sell NAC International to Hitz Holdings U.S.A. for $45M
USEC announced that it has entered into a stock purchase agreement to sell NAC International to Hitz Holdings U.S.A., a subsidiary of Hitachi Zosen Corporation, for $45M in cash following a competitive sale process. USEC acquired NAC in 2004 as NAC was adding to its diverse suite of spent fuel management technologies with the development and licensing of its ground-breaking MAGNASTOR technology. The sale will also benefit USEC's near-term balance sheet improvement efforts. USEC purchased NAC for $16M in 2004. Hitachi Zosen commented that "through the acquisition of NAC, Hitachi Zosen will be able to offer a 'one stop' solution from engine | |
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