The sale of Butler County-based Westinghouse Electric is complete.
The nuclear firm announced Wednesday the purchase by Brookfield Business Partners has finished, which means the company has been brought out of Chapter 11 bankruptcy.
Westinghouse filed for bankruptcy in 2017 after the cancellation of a nuclear power plant project in South Carolina. Earlier this year, the company announced it would be acquired by Brookfield.
“The close of this transaction marks an exciting milestone for Westinghouse as we have successfully emerged from Chapter 11, and continue to navigate a significant transformation that positions us for long-term sustainable success. With the support of Brookfield, Westinghouse will continue to build on its legacy of leading the nuclear industry. Our focus is on strengthening the business, capitalizing on our global footprint and excelling in client service and innovation,” Westinghouse President & CEO José Emeterio Gutiérrez said in a statement.
Westinghouse employs about 2,000 people in Cranberry Township.
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