Friday February 10, 2006 
Friday February 10, 2006 Toshiba plans to triple nuclear power sales
iht.com :
Toshiba, the largest maker of nuclear power-plant equipment in Japan, said that its Westinghouse Electric acquisition would help triple sales of its nuclear power business to as much as ¥700 billion (US$6 billion) by 2015.
Toshiba, which is paying $5.4 billion to buy Westinghouse from British Nuclear Fuels, is seeking to reduce its reliance on the chip business and consumer electronics operations, which are suffering from falling prices. The company's president, Atsutoshi Nishida, said it could take 15 to 20 years to recoup its investment in Westinghouse. He said Toshiba planned to control as much as 53% in Westinghouse, with the remainder going to investors.
Toshiba expects the market for atomic energy to expand 50% by 2020. By buying Westinghouse, Toshiba gets access to the pressurized water reactor technology preferred by China, which is expected to spend as much as $54 billion in the next 15 years building nuclear plants.
See also :
1. Toshiba agrees to buy Westinghouse for $5.4 bln
2. China : Nuclear Leap Forward
(2006-02-10 21:59:48 SGT)
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