US thinking about aid Westinghouse in order to prevent its transition into the hands of Russia or China


Moscow. June 29. INTERFAX.RU American authorities are ready to consider the provision of government support Westinghouse to facing financial problems manufacturer of nuclear technology is not passed into the hands of foreign players – companies from Russia or China, writes the Financial Times citing a senior official in the White house.

Westinghouse Electric Company, which is controlled by Japan’s Toshiba, 29 Mar filed for bankruptcy. Problems Westinghouse came on the background of large cost overruns on the construction of two U.S. nuclear power plants in Georgia and South Carolina. The debt of American companies at the end of 2016 amounted to $9.8 billion, according to Toshiba.

Officials are trying to find a buyer for Westinghouse, guaranteeing thereby that the company “will not fall into the hands of the Chinese or the Russians”, writes the FT. While the White house understands that Westinghouse may have to provide state support.

“There’s always the possibility. In White house discussions about the Westinghouse, about the future of nuclear energy, the preservation in the United States more than one manufacturer of nuclear equipment (in addition to consortium GE/Hitachi – Interfax)”, – the newspaper quoted an unnamed official.

As previously reported the Agency “Interfax-Ukraine”, Executive Director of the Westinghouse Emeterio Jose Gutierrez, the company will complete the development of the restructuring plan until July, a new five-year business plan until Aug. According to him, the restructuring plan consists of three areas: problem solving in the business of building reactors in the United States; improving the structure of the company; preparation for future growth.

“In the US because of the situation that we had to acquire the company, which was engaged in the construction (Chicago Bridge and Iron]) and, thus, Westinghouse has been involved in the construction, especially not wanting. In the future, we want to go back to the model, when Westinghouse does not build, and works in the field of engineering, supply and testing. Such a model we plan to use both in the UK and in India,” he explained.

In March 2017 the Board of Directors of Toshiba has approved the bankruptcy of its nuclear “daughter” Westinghouse. The company applied to the court for protection from creditors under bankruptcy proceedings. Westinghouse bankruptcy, according to experts, is Toshiba the only way to limit the risks of further losses in the division.

Westinghouse is one of the main competitors “Rosatom” in the field of reactor construction. The company, in particular, is one of the suppliers of nuclear fuel to Ukraine.

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