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Toshiba, IHI in talks over nuclear plant tie-up: report
Tokyo (AFP) Feb 29, 2008 Japan's Toshiba Corp. and heavy machinery manufacturer IHI Corp. are in talks over a possible business tie-up in energy systems, including nuclear power plant construction, a report said Friday. IHI may spin off its energy plant business into a new company that would then be partly owned by Toshiba, the Yomiuri newspaper reported, citing unnamed company sources. The two companies aim to challenge industry leader Mitsubishi Heavy Industries, it said. Toshiba, however, denied the report. "It is not true that Toshiba is in such negotiations with IHI in an attempt to integrate the energy businesses," it said. Toshiba in 2006 bought US nuclear power plant maker Westinghouse in a multibillion-dollar deal, expecting strong growth in atomic power due to concerns over high oil prices. Energy is one of Toshiba's core businesses along with semiconductors. Last week the company exited a DVD format war with rival Sony, saying it would focus on more profitable business areas. IHI Corp meanwhile is selling its loss-making cement plant business to industry peer Kawasaki Heavy Industries Ltd after a severe profit warning last year due to problems at plant projects. Related Links Nuclear Power News - Nuclear Science, Nuclear Technology Powering The World in the 21st Century at Energy-Daily.com
India shrugs off US nuclear accord warning
New Delhi (AFP) Feb 28, 2008India's foreign secretary on Thursday said he was working to seal a civilian nuclear deal with the United States, but cautioned that he did not see a deadline based on the US political calendar. |
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