By Dan Yurman,
Publisher of Neutron Bytes, a blog about nuclear energy. – February 20
The company’s self-inflicted troubles, caused by cooking the books and
mismanagement of its major acquisitions in the nuclear sector, have
impacted projects in the U.S., the U.K., and India. The firm said it
would exit the nuclear business worldwide. After weeks of media
speculation, Japan’s Toshiba said on 2/14/17 it would book a barn burner
of a loss estimated to be $6.3 billion related to its Westinghouse
business unit which is building four nuclear reactors in the U.S. and
four more in China. Conflicting statements about the firm’s 60% equity
stake in NuGen’s Moorside power station, for three reactors, raised
doubts with investors and the U.K. government about the future of the
project. A plan to build six new reactors in India, which has been in
the works for years, was thrown into limbo. The write down that wipes
out its shareholder equity and leaves the conglomerate with
virtually no cash. Toshiba’s chief executive officer and chairman
Shigenori Shiga resigned from his post, assuming “management
responsibility” for the company’s loss related to Westinghouse’s
acquisition of CB&I Stone and Webster. Read on...http://www.theenergycollective.com/dan-yurman/2398836/fate-toshibas-nuclear-projects-remains-uncertain
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