Toshiba Has High Hopes for Westinghouse

There was some interesting nuclear energy news made at Toshiba's annual shareholders meeting yesterday:

Japan's Toshiba Corp. said on Tuesday that Westinghouse, which it is buying from British Nuclear Fuels, is expected to win about 16 orders for new nuclear power plants in the United States.

Toshiba, Japan's second-largest electronics conglomerate behind Hitachi Ltd., agreed to buy Westinghouse in February for $5.4 billion to boost its position in the resurgent nuclear power industry, creating the world's largest nuclear reactor maker.

"In the United States, construction of nuclear power plants are set to pick up as we go forward. Among about 20 units in the pipeline, Westinghouse is estimated to take some 16," Toshiba President Atsutoshi Nishida told an annual shareholders' meeting.

(snip)

Toshiba has said its stake in Westinghouse will be 51 percent or a few percentage points more, and that the company is in talks with five or six companies about taking a minority stake in the Pennsylvania-based company.

Technorati tags: Nuclear Energy, Nuclear Power, Energy, Technology, Westinghouse, Toshiba