Centrus Acquires Westerman Holdings for $116 Million

BETHESDA, Md., Oct. 19, 2026 /CourierPR/ -- Centrus Energy Corp., a trusted supplier of nuclear fuel and services, has acquired Westerman Holdings, LLC, a key centrifuge component supplier, for approximately $116 million. The acquisition, funded through a combination of $95 million in cash on hand and $21 million in equity, is expected to be accretive to adjusted earnings per share in the first year following closing.

Westerman, founded in 1909, is an established industrial fabrication manufacturer with specialized capabilities serving the nuclear, oil and gas, and broader high-growth industrial markets. With approximately 400 employees and four world-class facilities in Ohio, Oklahoma, and Wyoming, Westerman provides a broad portfolio of products that span upstream and midstream oil and gas production equipment, engineered industrial systems, and nuclear-grade products including UF6 cylinders.

The acquisition of Westerman is a significant milestone for Centrus as it builds supply chain resilience while diversifying its revenue base. Westerman's expertise strengthens and de-risks Centrus' supply chain by securing and bringing in-house its critical manufacturing capabilities. The transaction simultaneously broadens Centrus' manufacturing platform, customer base, and future revenue opportunities through commercial and operational synergies. Centrus intends to secure this key supplier while expanding Westerman's capabilities, which currently service a number of non-nuclear customers across a variety of industries including oil and gas as well as other high-growth industrial sectors.

The addition of Westerman supports Centrus' previously announced multi-billion-dollar expansion of uranium enrichment capacity. Westerman is an existing manufacturer for centrifuge casings and other major centrifuge components for Centrus. With the acquisition, Centrus intends to secure this key supplier while expanding Westerman's capabilities.

The acquisition is expected to result in lower project costs for Centrus and greater efficiencies with an integrated supply chain. Centrus Energy is a trusted American supplier of nuclear fuel and services for the nuclear power industry, helping meet the growing need for clean, affordable, carbon-free energy. Since 1998, the Company has provided its utility customers with more than 1,850 reactor years of fuel, which is equivalent to more than 7 billion tons of coal. With world-class technical and engineering capabilities, Centrus is pioneering production of High-Assay, Low-Enriched Uranium and is leading the effort to restore America's uranium enrichment capabilities at scale so that we can meet our clean energy, energy security, and national security needs.

Forward-looking statements in this press release are made under the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. Readers are urged to carefully review and consider the various disclosures made in Centrus Energy Corp.'s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2025, under Part II, Item 1A, "Risk Factors" in its Quarterly report on Form 10-Q for the quarter ended March 31, 2026, under Part II, Item 1A, "Risk Factors" in its Quarterly report on Form 10-Q for the quarter ended June 30, 2026, and its other filings.