Major nuclear power company Westinghouse, a U.S. subsidiary of Japan’s Toshiba, filed for Chapter 11 bankruptcy on Wednesday in a massive blow to the industry.
The filing marked “a defining moment in the decades-long downward spiral of the global nuclear power industry,” wrote Greenpeace Japan in a statement.
“Toshiba/Westinghouse is responsible for building more nuclear reactors worldwide than any other entity,” the group observed. “With the financial meltdown of Westinghouse, Toshiba also recently announced its plans to withdraw from foreign construction projects—a move that has far-reaching implications outside Japan and the U.S., such as the construction of three reactors in the U.K. at Moorside.”
“We have all but completely pulled out of the nuclear business overseas,” Toshiba president Satoshi Tsunakawa said at a news conference, according to the New York Times.
The Times further reports:
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