Cafe RadLab

Full Version: Kick 'em while they're down... Toshiba nuclear troubles
You're currently viewing a stripped down version of our content. View the full version with proper formatting.
https://www.bizjournals.com/atlanta/news...shiba.html

Toshiba Corp. said Thursday it would liquidate its nuclear business in the United Kingdom and sell its natural-gas business, in the United States, taking a combined loss of nearly $1 billion, The Wall Street Journal reports.
The moves are intended to clear away problems after Toshiba went through restructuring in the past three years that included the bankruptcy of its former Westinghouse Electric business in the U.S. 
The bankruptcy stemmed in part from construction of the troubled Plant Vogtle nuclear power expansion near Augusta, Ga.
The U.K. business—NuGeneration Ltd., known as NuGen—had sought to build what was planned as Europe’s largest new nuclear project in northwest England. The project stumbled amid doubts about the economics of nuclear-power plants, The Journal reports.