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Desperate to save its failing nuclear business, Toshiba looks to Ukraine

Toshiba seeks deal in Ukraine to revive nuclear power business, Asahi Shimbun, By TOSHIO KAWADA/ Staff Writer, February 8, 2018  Toshiba Corp. is planning another foray into an overseas nuclear-power industry, forced in part by the disastrous consequences of its previous failure abroad, sources said.

The Tokyo-based company has started negotiations with Energoatom, a Ukrainian state-run power company, to supply turbine generators for use in its nuclear power plants. The two companies concluded a memorandum in October 2017.

Toshiba in March 2017 said it was withdrawing from the business of designing and constructing entire nuclear power plants overseas following the collapse of its U.S. nuclear arm, Westinghouse Electric Co.

However, Toshiba judged that it would not suffer such a huge deficit again if it only supplies equipment to nuclear power plants abroad, the sources said.

“There will be little concern that we will suffer a huge loss (from an overseas deal),” a source related to Toshiba said.

Energoatom operates 15 nuclear reactors and is building two others in Ukraine. It plans to replace the generators of old reactors to increase output.

Toshiba wants to win a deal with Energoatom to export the replacement generators and provide maintenance services after they go into operation.

If Toshiba succeeds in the equipment supply business in Ukraine, it will consider looking at other markets abroad, the sources said.

Toshiba is desperate for a steady source of income…….

Toshiba plans to earn steady profits from its nuclear business, believing competition with other companies will not be so fierce, the sources said.

But if this endeavor fails to pan out, Toshiba’s management situation could worsen.

February 9, 2018 - Posted by | business and costs, Japan, Ukraine

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