Westinghouse Electric Company
| Westinghouse Electric Company LLC.
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| legal form | |
| founding | 1886 |
| Seat |
Cranberry Township , Pennsylvania ,
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| Branch | Nuclear technology |
| Website | www.westinghousenuclear.com |
The Westinghouse Electric Company is an American manufacturer of nuclear power plants . From 2006 to 2018 the company was part of the Toshiba group. Large losses from a company takeover in the US in 2016 led to bankruptcy in 2017. In August 2018, the Westinghouse Electric Company was taken over by Brookfield Business Partners and other partners and led out of bankruptcy.
history
George Westinghouse founded the Westinghouse Electric Company in Monroeville , Pennsylvania in 1886 to manufacture electrical lighting.
The company, renamed Westinghouse Electric Corporation in 1945, developed in the 1950s u. a. a concept of a nuclear power plant with a pressurized water reactor , which was licensed and further developed by Siemens in Germany and by Framatome in France . The nuclear reactor was a further development of the pressurized water reactor for nuclear submarines and nuclear-powered ships, which had also been developed with the help of Westinghouse.
The first commercial nuclear power plant in the USA, the Shippingport nuclear power plant , was built by Westinghouse from 1954 and went into operation in 1957. In 1962 the very first pressurized water reactor on European soil was commissioned in the Nuclear Energy Study Center in Mol, Belgium .
Following the takeover of Westinghouse by CBS in 1995 and subsequent restructuring, the nuclear power plant division was sold to British Nuclear Fuels (BNFL) in 1998 and renamed Westinghouse Electric Company (WEC). In February 2006, the Japanese Toshiba group took over the nuclear activities of BNFL for US $ 5.4 billion and continues to operate them under the name Westinghouse Electric Company . Toshiba uses the “Westinghouse” brand under license from the Westinghouse Licensing Corporation .
WEC holds 52% of the shares in the Japanese nuclear fuel manufacturer NFI . In Europe, the Westinghouse Electric Company is represented by the independent subsidiary Westinghouse Electric Germany GmbH (Mannheim). 430 employees (as of December 31, 2015) carry out nuclear power plant overhauls in Europe and Asia with robot systems that were developed in Mannheim. Until 2000 this company was part of the ABB group .
In 2016 Westinghouse took over the loss-making company "CB&I Stone & Webster". "CB&I Stone & Webster" was a subsidiary of the Chicago Bridge & Iron Company and comprised the nuclear technology business of the former mechanical engineering company Stone & Webster . "CB&I Stone & Webster" was involved in the construction of the Vogtle and VC Summer nuclear power plants , which are severely affected by cost overruns. At the end of March 2017, WEC filed for bankruptcy in order to avoid further effects on the parent company Toshiba. Several rescue plans had previously failed, whereupon the company postponed the balance sheet presentation several times. To compensate for the heavy losses of the Westinghouse Electric Company in the USA, Toshiba is trying to find a buyer for a large part of its profitable semiconductor business in 2017 .
On August 1, 2018, the Westinghouse Electric Company was taken over by Brookfield Business Partners LP and other partners and the Chapter 11 bankruptcy was lifted.
Web links
Footnotes
- ↑ Important Events in: Warren, George Westinghouse, p. 26.
- ^ The History of Nuclear Power Safety
- ↑ Press release on toshiba.co.jp , February 6, 2006, English
- ↑ Article on netzeitung.de: Toshiba wins bidding dispute over Westinghouse ( memento from July 20, 2012 in the Internet Archive ), February 6, 2006
- ^ Company Overview, History, Certifications ( English ) Nuclear Fuel Industries, Ltd .. Archived from the original on July 16, 2011. Retrieved July 16, 2011.
- ↑ Federal Gazette
- ↑ mannheim.de
- ^ Toshiba Could Lose Billions From Troubled US Nuclear Power Deal. The New York Times, December 27, 2016, accessed April 16, 2017 .
- ↑ Toshiba's global atomic dream has burst . In: Handelsblatt.com , March 29, 2017.
- ↑ Toshiba opens bidding on semiconductor unit. Nikkei Asian Review, March 3, 2017, accessed March 6, 2017 .
- ^ Westinghouse Sale to Brookfield Complete. Westinghouse, August 1, 2018, accessed December 15, 2018 .