Toshiba buys Westinghouse
p2p news / p2pnet: Toshiba is buying Westinghouse, the US power plant division of British Nuclear Fuels (BNFL), for $5.4 billion.
Toshiba, Japan’s largest nuclear power-plant equipment maker, plans to expand in atomic energy as interest increases in countries such as the US and China, and, "as earnings from chips and consumer electronics slow amid increased competition," says Bloomberg News.
The price is almost five times what the UK government paid for Westinghouse in 1999, says the story.
Toshiba will sell a minority stake in Westinghouse to several investors, says Bloomberg.
Also See:
Bloomberg News – Toshiba to Pay $5.4 Billion for Westinghouse Electric, February 6, 2006
February 6th, 2006 at 3:08 pm
Not really.
Contrary to what the news story says this is not the Westinghouse Electric (WE) that was founded by George Westinghouse.
A few years ago Westinghouse Electric (WE) sold piecemeal their different divisions to various corporations minus the broadcast division. With the money WE purchased CBS and then assumed the CBS name. Then it merged with Viacom, who retained the name Viacom. That was the end of Westinghouse Electric founded by George Westinghouse.
The name Westinghouse Electric was retained by the division that made nuclear power plants, a business unit which did not exist in the life of George Westinghouse. So the WE in the referred news story does not really exist and that should be clarified.
BTW, I’m amazed how the US government allows American nuclear technology to be owned by foreign countries so that if an event- disaster like Chernobyl ocuurs with one of these plants it will be very hard to assign responsibility and that by itself may increase the possibility of the event ocurring. I guess for big money anything goes.
Rafael Venegas
http://www.gvenegas.com