Nuclear construction giant Westinghouse has filed for Chapter 11 bankruptcy protection in the United States.
A statement from the company said its operations in Europe would be unaffected by the move.
Westinghouse said: “The Company is seeking to undertake a strategic restructuring as a result of certain financial and construction challenges in its power plant projects.”
The company has been hit by huge cost overruns on US projects which have forced parent company Toshiba to write-down billions and exit from nuclear construction.
Westinghouse Interim President & CEO José Emeterio Gutiérrez said: “We are focused on developing a plan of reorganization to emerge from Chapter 11 as a stronger company while continuing to be a global nuclear technology leader.”
The company added: “Westinghouse’s operations in its Asia and Europe, the Middle East and Africa (EMEA) Regions are not impacted by the Chapter 11 filings.
“Customers in those regions will continue to receive the high-quality products and services they have come to expect in the usual course.”
Westinghouse is a key player in plans for a new power station at Moorside in Cumbria.
from Construction Enquirer http://www.constructionenquirer.com/2017/03/29/westinghouse-files-for-chapter-11-bankruptcy/
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