Centrus Energy announced on October 19, 2026 an acquisition of Westerman Holdings for approximately $116 million, comprising $95 million in cash and $21 million in equity. Westerman manufactures centrifuge casings and other critical components and has been one of Centrus' largest suppliers — a relationship the company is now converting into ownership.
The deal is positioned as strategically relevant to Centrus' multibillion-dollar uranium enrichment expansion, effectively vertically integrating centrifuge component manufacturing into its enrichment business and, in the company's framing, strengthening America's domestic nuclear fuel supply chain.
Backed by a $900 million DOE task order
The acquisition comes as Centrus advances its commercial low-enriched uranium (LEU) and high-assay low-enriched uranium (HALEU) production ambitions, supported by a $900 million Department of Energy task order and growing commercial fuel commitments. Centrus finalised that $900 million order in July 2026 to produce HALEU for the DOE.
The supply-side rationale is hard to ignore. The United States has not had an active uranium enrichment facility for national security and defence needs since the Paducah, Kentucky, plant closed in 2013, and DOE is relying on finite Cold War-era stockpiles. US military and national security agencies are barred from using foreign enrichment technology or foreign-sourced fuel.
Centrus's AC100M centrifuge is described as the only American-developed, deployment-ready uranium enrichment system available that complies with US legal and national security requirements.
Commercial book already building
Centrus operates the only US Nuclear Regulatory Commission-licensed facility capable of producing HALEU — enriched between 5% and 20% U-235 — which is required for almost all next-generation advanced small modular reactors and microreactors.
It also holds multi-year HALEU supply agreements with advanced reactor developers X-energy, Radiant Industries and Antares Nuclear, often backed by customer prepayments. Financially, Centrus reported Q2 2026 revenue of $176.1 million, up 13.9% year over year, and guided full-year 2026 revenue to $450 million–$500 million versus $448.7 million in 2025. It carries a $4.5 billion backlog scheduled out to 2040, including $3.7 billion from its primary fuel business and $3 billion in potential future LEU and HALEU sales.
Centrus stock, however, is down more than 52% year to date and trades at about 33 times forward earnings — a reminder that the HALEU build-out story is being priced against a long and capital-intensive delivery schedule rather than near-term volumes.
This article was assisted by AI analysis. Please refer to the original source for official information.