Centrus Energy (LEU) bought Westerman Holdings for $116 million, paying $95 million in cash and $21 million in stock, to bring part of its nuclear fuel supply chain in-house. Westerman makes oil and gas equipment and also fabricates uranium hexafluoride cylinders, centrifuge casings and large components that Centrus needs, and was already a key vendor. Bringing this work in-house is meant to ease supply bottlenecks, give Centrus control over production timelines, capture margin internally and diversify earnings beyond nuclear fuel. Centrus has relied heavily on Russian state-owned TENEX for LEU, and some waivers under the Russian uranium import ban expire on Jan. 1, 2028, while the ban runs through 2040. The company is investing $560 million in AC100M centrifuges in Oak Ridge, Tennessee, and expanding its Piketon, Ohio plant, a capital-intensive build-out that will take years.
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