Buyers for Westinghouse set out position

13 July 2005

Japanese industrial group Mitsubishi Heavy Industries (MHI) is considering making a bid for nuclear power engineering company Westinghouse Electric.

State-owned BNFL is looking to sell the US-based company for around $1.8 billion.

MHI, which is hoping to expand its reactor business outside Japan, is said to be looking for partners to make a joint purchase, one of the largest Japanese acquisitions of recent years.

MHI has a decades-long licensing agreement with Westinghouse for pressurised water reactor technology and would be reluctant to let the company fall into the hands of a competitor.

General Electric is another major industrial player with designs on the nuclear plant developer. It makes boiling water reactors, which it has licensed to Hitachi and Toshiba.

Meanwhile, French state-owned Areva is also thought likely to make a bid for one of its major competitors.

BNFL has said that, over the last 18 months, some 15 companies have expressed an interest in buying Westinghouse.


Related Articles
German nuclear capacity may get post-election reprieve



Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.