Competition Bureau advances an investigation into BWX Technologies’ proposed acquisition of Kinectrics

GATINEAU, QC, May 7, 2025 /CNW/ – The Competition Bureau has obtained court orders to gather information to advance its investigation into BWX Technologies’ proposed acquisition of Kinectrics. BWX Technologies and Kinectrics operate in the nuclear medicine sector, among other nuclear sectors.

BWX Technologies and Kinectrics, directly or through a joint venture or partnership, provide products and services at various stages of the medical isotope value chain.

The Bureau is investigating whether the acquisition is likely to result in a substantial lessening or prevention of competition in Canada’s nuclear medicine sector. The acquisition includes Kinectrics’ interest in Isogen, a company that enables the production of medical isotopes and is jointly owned with Framatome Canada.

The court orders, granted by the Federal Court of Canada, require three market participants in the nuclear medicine sector to provide information and produce records and data related to but not limited to transaction agreements, capacity, sales, and competitive dynamics. The entities receiving court orders are Bruce Power, Ontario Power Generation (OPG) and Framatome Canada.

The Bureau also issued supplementary information requests to BWX Technologies and Kinectrics.

BWX Technologies announced its plan to acquire Kinectrics on January 7, 2025.

Quick facts

• Medical isotopes are used by medical professionals to diagnose and treat health conditions such as heart disease and cancer.
• The Competition Bureau can issue supplementary information requests to the parties of a proposed merger within a 30-day waiting period for notifiable transactions. Notifiable transactions are those that meet certain financial thresholds and criteria defined in the Competition Act.
• BWX Technologies is a publicly-traded, US-based company involved in various nuclear industries. In the nuclear medicine sector, the company processes medical isotopes and manufactures finished drug products. BWX Technologies also partners with OPG to produce medical isotopes. The company operates globally and has facilities in Ontario and an office in British Columbia.
• Kinectrics is a Canada-based provider of engineering and in-plant services for nuclear facilities. It produces inputs used for medical isotopes while its joint venture, Isogen, produces medical isotopes. The company operates globally and is headquartered in Toronto, Ontario.
• Isogen, a Canada-based joint venture between Kinectrics and Framatome Canada, works with CANDU reactor technology to enable the production of medical isotopes. Isogen partners with Bruce Power to produce medical isotopes for global markets.
• Bruce Power and OPG operate CANDU nuclear reactors and are leading suppliers of medical isotopes used worldwide. OPG is one of North America’s largest energy providers and Bruce Power is a major nuclear power provider in Ontario. Both are headquartered in Ontario and are Canada-owned.
• CANDU (CANada Deuterium Uranium) reactors are Canadian-designed, pressurized heavy-water reactors that use natural uranium fuel and heavy water as a moderator and coolant. CANDU reactors are important contributors to the global supply of medical isotopes.
• Framatome Canada is a subsidiary of Framatome, a France-based company that provides nuclear power products and services. Framatome operates globally in more than 20 countries.

Associated links

• Overview of the merger review process
• Merger Enforcement Guidelines
• Changes to the provisions on mergers, restrictive trade practice and abuse of dominance with amendments to the Competition Act in 2022-2024 
• Information Bulletin on the Communication of Confidential Information Under the Competition Act

General information:

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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.

SOURCE Competition Bureau