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Toshiba to own Nuclear Fuel Industries, join Hitachi Ltd. and Mitsubishi Heavy Industries ?

Japan News 31st March 2018, Toshiba Corp. said Friday that it will take full control of Nuclear Fuel
Industries Ltd., a Japanese nuclear fuel supplier, by the end of June.
Toshiba, which last October agreed to acquire 52 percent of Nuclear Fuel
Industries from Westinghouse Electric Co., newly signed agreements to
purchase the remaining stake from Sumitomo Electric Industries Ltd. and
Furukawa Electric Co.

Sumitomo Electric and Furukawa Electric own 24
percent each of Nuclear Fuel Industries. Toshiba’s move to fully own
Nuclear Fuel Industries is expected to help accelerate its talks with
Hitachi Ltd. and Mitsubishi Heavy Industries Ltd. on integrating their
respective nuclear fuel operations in Japan.

Nuclear fuel suppliers owned by Japanese nuclear plant makers have been struggling with sluggish demand
as many nuclear plants in the country remain suspended. Toshiba, Hitachi
and Mitsubishi Heavy previously aimed to merge their domestic nuclear fuel
operations in spring last year, but the talks have been stalled due to
Toshiba’s financial crisis.


April 2, 2018 - Posted by | business and costs, Japan

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