As the start-up of the world’s first AP1000 unit approaches, Westinghouse is using the Chapter 11 bankruptcy protection process to transform itself. The company will come out of the process “leaner, stronger and more competitive”, Westinghouse president and CEO Jose Gutierrez told the World Nuclear Association Symposium. Gutierrez said Westinghouse took the “strategic decision” to file for Chapter 11 protection on 29 March. However, he stressed the company is “in a much better situation than many of you could think”. He said the Chapter 11 process is an opportunity for Westinghouse to transform itself. The company, he said, will protect its “core business” – nuclear fuel, engineering, component supply and decontamination & decommissioning. “All those areas that have been the traditional business of Westinghouse,” he added.
World Nuclear News 15th Sept 2017 read more »