B&W To Transfer Control Of German Nuclear Firm To Brown Boveri Group
The Babcock & Wilcox Company and Brown Boveri have announced that a memorandum of understanding has been signed to restructure their relationship in the nuclear equipment business in Germany. Babcock-Brown Boveri Reaktor GmbH (BBR), a German supplier of nuclear steam supply systems, now owned 74 percent by B&W and 26 percent by Brown Boveri of Mannheim, Germany, would be owned 60 percent jointly by Brown Boveri of Switzerland and its German group company, Brown Boveri of Mannheim, and 40 percent by B&W.
The memorandum of understanding of the new arrangements has been executed by B&W, Brown Boveri of Switzerland and Brown Boveri-Mannheim, subject to approval of the boards of the three companies.
BBR will continue to hold a license from B&W for pressurized water nuclear steam supply systems. In addition, technical cooperation in the nuclear equipment field between B&W and Brown Boveri will be fully maintained and B&W will continue to provide technical support to BBR. B&W will continue to be represented on the board of BBR.
BBR, in consortium with Brown Boveri, supplies complete nuclear powerplants. The consortium is currently supplying on a turnkey basis the 1,200-megawatt nuclear powerplant at Mulheim-Karlich, West Germany, scheduled for completion in 1980. This plant is being built for Rheinisch-Westfalisches Elektrizitatswerk AG.
This consortium also holds letters of intent for two more nuclear powerplants to be built at Remerschen, Luxembourg, and Neupotz, West Germany.