Toshiba Nuclear is a product I have never heard of in the past. This is ironic since I did work in the Nuclear industry in the past. Toshiba purchased a portion of Westinghouse which was doing various nuclear work types.
At issue is that Toshiba Nuclear is looking to file for bankruptcy in the US. They state that they will not affect the European portion of the company. There is issue that Toshiba may have to sell off their lucrative chip manufacturing to pay off the debt. There is concern that the debit will cause problems across the board for the rest of the company. This would be a huge hit to the Electronics Industry as well as several others to lose such a large competitor.
This is a tie in to the Global side because of how much effect the loss of the US portion could actually take down the rest of the company due to the debt problem.
BBC News Toshiba Nuclear
Very interesting news! I was totally unaware that Toshiba / Westinghouse was involved in the nuclear industry. It is sad to hear about companies going bankrupt, but it sounds like Westinghouse was a mess. After a quick google search to learn more about "Toshiba Nuclear," I found an article from March 30th about Toshiba developing a "new zero-carbon power source." You might find the article interesting!
ReplyDelete- https://www.forbes.com/sites/christopherhelman/2017/03/30/who-needs-nuclear-toshiba-already-working-on-new-zero-carbon-power-source/#682d584919c4
I am very familiar with nuclear power and the companies that support the industry. A couple years ago I had the opportunity to travel to Westinghouse headquarters in Cranberry and it was amazing. Toshiba owns Westinghouse and Westinghouse owns Siemens that owns Ovation. It is a proprietary nightmare that needs restricting. I am sure that the biggest problem is the nuclear construction projects in Georgia and South Carolina that have been delayed by suppliers and have cost billions more than expected. The bankruptcy will allow them to restructure and become a better company.
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