Breaking News

Akasa Launches Newton N16, Compact Fanless Case for ASUS NUC 16 Pro TEAMGROUP Unveils the ACE 8K MicroSDXC Memory Card ASUS Announces Ascent QN10 Mini PC CORSAIR Launches Second Generation Nautilus II AIO CPU Coolers CORSAIR Launches VOXARA USB Gaming Condenser Microphone

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed

Search form

Toshiba's  Nuclear Unit Westinghouse Files for Bankruptcy

Toshiba's Nuclear Unit Westinghouse Files for Bankruptcy

Enterprise & IT Mar 29,2017 0

Toshiba confirmed that its U.S. nuclear unit Westinghouse Electric filed for Chapter 11 bankruptcy in New York court, projecting an annual loss of a record 1.01 trillion yen ($9.1 billion).

Westinghouse was part of Toshiba's plans to diversify away from consumer electronics. The company has now put its prized memory chip unit up for sale just as it was recovering from a profit-padding scandal that claimed the scalps of senior executives.

Westinghouse, whose technology forms the basis of about half the world's atomic units, has been grappling with project setbacks in Georgia and South Carolina, which led to Toshiba's impairments. The forecast loss of 1.01 trillion yen for the Japanese parent company is more than double the the 390 billion yen loss projected last month.

Westinghouse signed deals in 2008 to build four reactors for Southern Co. and Scana Corp., at Three Mile Island to be approved for construction by regulators.

But costs for the reactors increased after stricter safety standards were put in place in the wake the 2011 Fukushima nuclear accident in Japan. On top of that, a plunge in natural gas prices has made nuclear generation less attractive.

Construction for Scana and Southern, didn't go smoothly. Some projects failed regulatory tests, while others fell behind schedule. Work that should have been finished last year or this year were pushed back to 2019 or 2020.

Tags: Toshiba
Previous Post
SK Hynix Offers More Than $9 billion for Toshiba Chip Unit: report
Next Post
New Intel Xeon Processor E3-1200 v6 Product Family Targets Pros

Related Posts

  • Toshiba launches Canvio Ready portable hard drive with partly recycled-material top cover

  • Toshiba Demonstrates Storage Infrastructure for Scientific AI and Research at ISC 2026

  • Toshiba Canvio Flex Portable Hard Drive, Now in Metallic Blue

  • Toshiba Begins Sampling of 30-34 TB SMR Nearline Hard Disk Drives

  • World Backup Day 2026: A Backup Doesn’t Always Need to be in the Cloud

  • Toshiba to Showcase High-Performance AI and Petabyte-Scale Storage Solutions at Cloudfest 2026

  • Asustor AS5404T 4-Bay NAS System

  • Toshiba Storage Trends 2026

Latest News

Akasa Launches Newton N16, Compact Fanless Case for ASUS NUC 16 Pro
Cooling Systems

Akasa Launches Newton N16, Compact Fanless Case for ASUS NUC 16 Pro

TEAMGROUP Unveils the ACE 8K MicroSDXC Memory Card
Cameras

TEAMGROUP Unveils the ACE 8K MicroSDXC Memory Card

ASUS Announces Ascent QN10 Mini PC
Enterprise & IT

ASUS Announces Ascent QN10 Mini PC

CORSAIR Launches Second Generation Nautilus II AIO CPU Coolers
Cooling Systems

CORSAIR Launches Second Generation Nautilus II AIO CPU Coolers

CORSAIR Launches VOXARA USB Gaming Condenser Microphone
Consumer Electronics

CORSAIR Launches VOXARA USB Gaming Condenser Microphone

Popular Reviews

Endorfy Thock V2 Wireless Keyboard

Endorfy Thock V2 Wireless Keyboard

The Quiet Technology Behind the Spin

The Quiet Technology Behind the Spin

SoundPeats Cove Pro

SoundPeats Cove Pro

Akaso Brave 8 Lite

Akaso Brave 8 Lite

Kioxia Exceria Plus G3 512GB microSD

Kioxia Exceria Plus G3 512GB microSD

be quiet! Dark Perk Mice

be quiet! Dark Perk Mice

SoundPeats C30

SoundPeats C30

XbotGo Chamaleon

XbotGo Chamaleon

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed