Nuclear giant Westinghouse files for bankruptcy protection

Collapse of Toshiba unit, which has technology in about half world’s reactors, will deal blow to UK’s nuclear strategyWestinghouse Electric, the US nuclear power plant giant, has filed for bankruptcy protection, threatening a further blow to the UK’s atomic energy programme.The filing for Chapter 11 protection from creditors will allow Pittsburgh-based Westinghouse, whose nuclear plant projects have been dogged by delays and cost overruns, to renegotiate or break its construction contracts, although the utilities that own the projects would likely seek damages. Continue reading…


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