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C$80 million investment will create more than 200 new jobs in Ontario
One of North America's largest commercial nuclear manufacturers to get even bigger, driven by increasing demand for clean nuclear energy
BWX Technologies, Inc. (NYSE:BWXT) announced today an investment to expand its Cambridge manufacturing plant. Already one of the largest nuclear commercial manufacturing facilities in North America, the site's increased footprint will enable greater capacity to support ongoing and anticipated customers' investments in Small Modular Reactors, traditional large-scale nuclear and advanced reactors, in Canada and around the world.
The expansion, estimated to cost C$50 million, will increase the facility's footprint 25 percent to 280,000 square feet. Additionally, over the next few years, BWXT will invest approximately C$30 million in advanced manufacturing equipment for the facility that has designed and manufactured hundreds of large nuclear components. This total estimated C$80 million investment will increase capacity significantly, improve productivity and create more than 200 long-term jobs for skilled workers, engineers and support staff in the area.
John MacQuarrie, president of Commercial Operations, BWXT, stated, "Our expansion comes at a time when we're supporting our customers in the successful execution of some of the largest clean nuclear energy projects in the world. At the same time, the global nuclear industry is increasingly being called upon to mitigate the impacts of climate change and increase energy security and independence. By investing significantly in our Cambridge manufacturing facility, BWXT is further positioning our business to serve our customers to produce more safe, clean and reliable electricity in Canada and abroad."
Construction for the BWXT Cambridge Expansion Project is expected to begin in the third quarter of 2024, adjacent to the existing plant, with no interruption to ongoing operations at the current facility. The project is estimated to be completed by the middle of 2026.
Additionally, BWXT's Projects and Field Services business will relocate to a stand-alone 150,000 square foot facility in Kitchener, Ont. The facility in Kitchener will be a state-of -the-art center for training, dynamic learning and technology development supporting the growth of the company's nuclear business.
Mike Rencheck, president and CEO of Bruce Power said, "The nuclear industry is powering Ontario's economy, by supplying clean, reliable electricity, life-saving medical isotopes, and creating thousands of good jobs. We are supporting advanced manufacturing while providing a deeply decarbonized grid to attract new businesses to our province. The expansion at the BWXT facility in Cambridge is another great example of the positive impact our industry can have in communities all across the province. Clean air, cancer-fighting medical treatments, and economic expansion leading Ontario to a better future."
Ken Hartwick, president and CEO of Ontario Power Generation (OPG), said, "As we refurbish our existing nuclear facilities and build new, OPG is also generating jobs and economic activity in Ontario's robust nuclear supply chain. BWXT's planned expansion is a great example of how building out a system to meet Ontario's increasing clean energy needs is also paying dividends for our province's economy."
Posted In: BWXT
