PEACHTREE CORNERS, Ga., June 19, 2023 (GLOBE NEWSWIRE) -- NAC International Inc. (NAC) announced today that it has established a Canadian Subsidiary, Niagara Energy Products Inc. (NEP Inc.) and that NEP Inc. has acquired substantially all of the assets of Niagara Energy Products (NEP).
NEP is a leading supplier of nuclear containers and pressure boundary components for the Nuclear, Energy, Extractive, Defense and Industrial markets in North America and elsewhere. NEP is headquartered in Niagara Falls, Ontario, Canada, with additional facilities in Fort Erie and Brantford, Ontario.
Serving industry since the 1960s, NEP specialized in large, heavy, nuclear grade fabrications and precision machining of steel, alloys and composites. Within its 220,000 square feet facilities, NEP uses state-of-the-art equipment and heavy machinery to support nuclear operations and the refurbishment of Canadian CANDU® reactors. NEP is also a leading supplier of self-standing, self-shielded containers, vessels, and flasks for the safe handling and storage of radioactive wastes and used nuclear fuel in North America.
In announcing these moves, Kent Cole, President and CEO of NAC said: “The Canadian Nuclear market is extremely important to NAC. This acquisition positions us to serve this growing market through a world-class nuclear manufacturing center. We now have an excellent Canadian platform to support the clean energy goals of Canada. We are excited to welcome NEP and its talented team of employees to the NAC family of businesses.”
Speaking on behalf of the sellers, Mr. Robert Dimitrieff, President of Patriot Forge and former president of NEP, said: “We sought a buyer that could continue NEP’s strong track record of service to the Canadian nuclear market, and we have every confidence that NAC will do exactly that.”
Nuclear power is a vital source of carbon free electricity as part of a balanced energy mix in the United States, Canada and elsewhere and the need for skills, experience and quality facilities has never been greater. Whether expanding nuclear generation or decommissioning and dismantling retiring facilities NAC shall leverage the combined capabilities of NEP Inc. with its own to expand its product and service portfolio.
NEP Inc. shall offer integrated nuclear waste management solutions that are safe, reliable, dependable, and economical to assist our customers to succeed in their tactical and long-term objectives.
About NAC International
NAC International Inc. (www.nacintl.com) is a diversified corporation specializing in developing and licensing technology and providing full scope services for used nuclear fuel and radioactive materials packaging, storage, transport, and management. Since 1968, NAC has been a leader in providing solutions and services to the nuclear industry throughout the world, working with both government and commercial organizations. NAC provides a broad range of fuel cycle-related consulting and information services to clients worldwide. NAC maintains its corporate headquarters in Peachtree Corners, GA. NAC is a wholly owned subsidiary of Hitachi Zosen Corporation, a global leader in design and construction of environmental systems, industrial plants, industrial machinery, process equipment, infrastructure-related equipment, disaster prevention systems, and precision machinery.
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