Nuclear powerplant in Belgium. Photo: Unsplash Frédéric Paulussen
By E. Lee Phillips, Technology Contributor
Curtiss-Wright Corporation announced that it has completed the acquisition of WSC for approximately $34 million in cash.
WSC is a provider of simulation technology that supports the design, commissioning, and operation of commercial nuclear power generation and process plants worldwide with an installed base of over 225 plant simulators.
In a news release on April 2, Curtiss-Wright noted that WSC generated sales of approximately $15 million in 2023 and is expected to be accretive to Curtiss-Wright’s adjusted diluted earnings per share in its first full year of ownership, excluding first year purchase accounting costs, and produce a strong free cash flow conversion rate in excess of 100%.
The acquired business will operate within Curtiss-Wright’s Naval & Power segment, the company said.
“The acquisition of WSC increases the breadth of Curtiss-Wright’s portfolio of advanced commercial nuclear technologies utilized in the modernization of existing power plants and design of new power plants such as Advanced Small Modular Reactors,” said Lynn M. Bamford, Chair and Chief Executive Officer. “The combination of WSC’s solutions, including their simulation and digital twin capabilities, with Curtiss-Wright’s digital safety systems and advanced condition monitoring technology, will benefit our customers developing advanced reactors as well as those optimizing any power or process plant designs. The acquisition also supports Curtiss-Wright’s financial objectives for long-term profitable growth and strong free cash flow generation.”
WSC’s proprietary 3Keymaster simulation platform is used in its nuclear full scope simulators that are mandated by the Nuclear Regulatory Commission (NRC) and remain integral to reactor operator training and licensing. Simulation assisted engineering tools optimize the design and commissioning of plants, to include Advanced Small Modular Reactors (ASMRs), by creating a digital twin of plant components and systems to reduce risk, accelerate delivery, and improve quality at a lower cost.
In 2023, WSC was awarded a contract by TerraPower to support the design and development of the Natrium sodium fast reactor, and continues to contribute to the development of other ASMR platforms.
In addition, generic simulators are used at universities, regulatory agencies, training centers and plants to offer classroom-based training on the operation of nuclear plants under normal and abnormal conditions.
Curtiss-Wright noted that WSC’s simulation capabilities have also proven beneficial for U.S. Navy nuclear design agencies and shipyards to enhance the design process of nuclear systems and components for aircraft carriers and submarines.
WSC, which was founded in 1995 and employs approximately 45 people, maintains operations in Frederick, MD.
Headquartered in Davidson, NC, Curtiss-Wright Corporation is a global integrated business that provides highly engineered products, solutions and services mainly to Aerospace & Defense markets, as well as critical technologies in Commercial Power, Process and Industrial markets.
More information:
http://www.curtisswright.com
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