The CBS corporation has announced the signing of a deal to sell the Westinghouse Process Control Division (PCD) to Emerson Electric Co for $265 million, with the assumption of various liabilities. The deal is expected to be completed during the third quarter of this year.
The Westinghouse PCD designs and makes control and information systems for power plants and other industrial installations. It is based in Pennsylvania.
Under the terms of the agreement, Emerson will enter into an exclusive supply agreement with Westinghouse’s nuclear power business to provide technology, hardware and services for nuclear instrumentation and control systems around the world.
