This press will have capability to produce forgings, such as pressure vessel and steam generator components, which sit at the heart of modern nuclear power plants. It will put the UK centre-stage in the global supply chain for the expected nuclear renaissance, the company said.

Mike Tynan, CEO of Westinghouse UK, said: “Today’s announcement is yet another tangible indicator that new nuclear build is becoming a reality for the UK and around the world. Westinghouse has long operated a ‘We Buy Where We Build’ approach, and this news serves as further evidence of our confidence in the UK supply chain and commitment to build AP1000s here.”

Dan Lipman, senior vice president of global growth and innovation at Westinghouse, said: “This announcement marks a major step forward for Westinghouse in developing a world-class supply chain, not just for the UK market but across the globe. We have excellent and long-established links with Sheffield Forgemasters and we look forward to strengthening those well into the future.”

The specific details of the arrangement are commercially confidential. The proposed venture is subject to final due diligence, which will be carried out over the coming weeks.