LONDON, UK / ACCESSWIRE / April 19, 2018 / Active-Investors.com has just released a free research report on BWX Technologies, Inc. (NYSE: BWXT) ("BWXT"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=BWXT as the Company's latest news hit the wire. On April 17, 2018, the Company announced that its subsidiary has inked a deal to acquire Sotera Health LLC's Nordion medical isotope business, a leading global manufacturer and supplier of critical medical isotopes and radiopharmaceuticals for research, diagnostic, and therapeutic uses. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, BWX Technologies most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=BWXT
The acquisition accelerates and de-risks BWXT's entry into the medical radioisotope market by adding licensed infrastructure, approximately 150 highly trained and experienced personnel, and 2 production centers to BWXT.
Details of the Deal
- The acquisition, expected to close by the end of 2018, is subject to required Canadian and US regulatory reviews and approvals.
- BWXT will acquire essentially all of Nordion's medical isotope assets, including the radiochemical operation and contract manufacturing services in Kanata, and the medical isotope operation in Vancouver, British Columbia.
- Both Companies will continue to operate from Nordion's state-of-the-art licensed facility in Kanata, Ontario. Nordion will continue to focus on accelerating growth in gamma technologies, including industrial and medical cobalt-60.
- Following the closing of the transaction, BWXT expects to reduce capital expenditure by approximately $100 million, before acquisition costs. The Company now expects capital expenditure of approximately $150 million in 2018.
Acquisition is a Foundational Step to Enter the Medical Radioisotope Market
Rex D. Geveden, President and Chief Executive Officer (CEO) at BWXT, stated that the acquisition demonstrates the Company's ability to leverage its traditional and unique competencies in radiochemical processing to expand into an exciting market with a high growth potential. Geveden added that BWXT has previously announced plans to enter the medical radioisotope market with a new, innovative technology, and this acquisition is a foundational step in that direction.
The Sale will Enable BWXT to Enter Medical Isotope Field with Highly Skilled Employees and Specialized Facilities
Michael Petras, CEO of Sotera Health, stated that the world's need for gamma technology has expanded dramatically as the demand for sterilization of medical and non-medical applications has accelerated in response to increasing global regulatory demands and growing healthcare needs. Petras added that the sale will enable BWXT to enter the medical isotope field with highly skilled employees and specialized facilities that are recognized as the best in the business.
BWXT's Last Acquisition Deal
In December 2016, the Company's subsidiary BWXT Canada Ltd completed the acquisition of the GE Hitachi Nuclear Energy Canada Inc. ("GEH-C") joint venture, which was re-named BWXT Nuclear Energy Canada Inc. The financial terms of the transaction were not disclosed.
About BWX Technologies, Inc.
Headquartered in Lynchburg, Virginia, BWXT is a leading supplier of nuclear components and fuel to the US government; provides technical and management services to support the US government in the operation of complex facilities and environmental remediation activities; and supplies precision manufactured components, services, and fuel for the commercial nuclear power industry.
About Sotera Health LLC
Sotera Health LLC, along with its business entities, is the world's leading, fully integrated protector of global health. With over 500 years of combined scientific expertise, the Company ensures the safety of healthcare by providing mission-critical services to the medical device, pharmaceutical, tissue, and food industries. Sotera Health is based in Oak Brook, Illinois.
Stock Performance Snapshot
April 18, 2018 - At Wednesday's closing bell, BWX Technologies' stock was slightly up 0.84%, ending the trading session at $69.93.
Volume traded for the day: 366.13 thousand shares.
Stock performance in the last month - up 10.44%; previous three-month period - up 11.26%; past twelve-month period - up 44.93%; and year-to-date - up 15.61%
After yesterday's close, BWX Technologies' market cap was at $7.02 billion.
Price to Earnings (P/E) ratio was at 47.47.
The stock has a dividend yield of 0.92%.
The stock is part of the Industrial Goods sector, categorized under the Aerospace/Defense Products & Services industry. This sector was up 0.7% at the end of the session.
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