Toshiba to Pay $5.4 Billion for Westinghouse

Philip writes "Business electronics firm Toshiba is bidding for 100% control of Westinghouse - famous for making blenders and LCD televisions, but principally in the business of building nuclear reactors. 'By 2020 the market for nuclear power generation is expected to grow 50 percent compared to 2005,' Toshiba CEO Nishida said at a London news conference. 'Toshiba is responding to this challenge by acquiring Westinghouse.'"

Comments

Thank you, Greenpeace

[mi]

If not for the hysterical campaigns against nuclear energy, we would not be having this awful dependency on oil and other grossly unhealthy fossil fuels...

It seriously set the nuclear power industry back, which is a shame. Old plants continue to operate, but new ones are very slow to appear. Safe and non-polluting technologies were available for decades and we are wising up to using them only now.

Re:Thank you, Greenpeace

[mi]

Nuclear is currently used primarily for non transport energy so would have near zero impact on our oil

Electrical heating, electrical rail road engines, electrical cars would've made far more economic sense if electricity was as cheap and abundant as nuclear power can make it.

You need to include all costs for an accurate comparision, this site includes all costs

That's the point. Greenpeace's et al.'s passionate protests make the nuclear power's cost much higher financially. Even worse -- politically it was prohibitively expensive for decades.

Now that Chinese (no more willing to depend on foreign fuel suppliers, than us) are about to build dozens of new nuclear plants (Toshiba's main motivation for this purchase), the world is suddenly reconsidering...

Brakes

[grahammm]

I have never heard of Westinghouse blenders or TVs. To me the name Westinghouse means railway brake systems.