On Thursday, the Transnuclear subsidiary of French multi-national Areva purchased custom fabricator Columbiana Hi Tech.
In a release, Transnuclear CEO Michael McMahon said, "This is an exciting forward-looking step for Transnuclear, strengthening our position in the U.S. market as it increases our ability to aggressively streamline costs and improve quality, while maintaining control of our design innovations and intellectual property."
Areva made assurances that Transnuclear orders will not receive preferential treatment at the acquired company, and that it will ensure the confidentiality of competitors working with Columbiana Hi Tech. Its president will remain in place, as will its current employees.
The company engineers and fabricates specialty products for the nuclear power industry. Its website advertises products that include containers for uranium hexafluoride, uranium oxides and spent fuel, along with related equipment.
Terms of the sale were not disclosed. The Charlotte Business Journal reported that Greensboro, N.C.-based Columbiana has about 90 employees.