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Toshiba considers bankruptcy of its nuclear branch in the United States


Toshiba considers bankruptcy of its nuclear branch in the United States

Jueves, Febrero 23, 2017

Japan’s technology giant Toshiba is considering bankruptcy of Westinghouse Electric, its nuclear energy arm in the US. UU. Whose multi-million dollar devaluation will result in heavy losses for the company.

The Japanese conglomerate shuffles this move as one of its options in the framework of reviewing the operations of the atomic unit, the source of its financial problems, according to company sources.

The information triggered the price of Toshiba shares on the Tokyo Stock Exchange, where they rose 12% after the fall of more than 4% experienced on Thursday.

The company’s shares had lost more than half its value since it announced at the end of last December a multi million-dollar deterioration of its nuclear assets in the US. Which has led to the reduction of these operations and the resignation of its president, Shigenori Shiga.

The company, which expects a net loss of 390 billion yen (3,232 million euros) for the entire fiscal year 2016, maintains a dispute with Chicago Bridge & Iron, former owner of Westinghouse, on account of its valuations of assets and business Of the constructor.

The devaluation of Toshiba’s nuclear energy arm is due to the increase in labor costs and the construction of projects to build new nuclear plants in the United States.

Collaboration EFE


February 24, 2017 - Posted by | Uncategorized

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