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70-579: The Office for Nuclear Regulation (ONR) is the regulator for the nuclear industry in the United Kingdom. It is an independent statutory corporation whose costs are met by charging fees to the nuclear industry. The ONR reports to the Department for Work and Pensions , although it also worked closely with the now-defunct Department of Energy and Climate Change . The establishment of the ONR followed

140-493: A transit district or special purpose corporations such as a university , are also created by statute. In some states, a city or county can be created by petition of a certain number or percentage of voters or landholders of the affected area, which then causes a municipal corporation to be chartered as a result of compliance with the appropriate law. Corporations to be established for most other purposes are usually just incorporated as any other non-profit corporation , by filing

210-560: A 2008 review conducted on behalf of the Government into the regulation of the UK civil nuclear industry, recommending the creation of a single industry-specific regulator. The ONR was created on 1 April 2011 as a non-statutory agency of the Health and Safety Executive (HSE), with the Government intending to put the ONR on a statutory basis at a later date. The ONR was formed from the merger of

280-488: A 390 billion yen ($ 3.4 billion) loss, mainly in its US nuclear business which was written down by 712 billion yen ($ 6.3 billion). On 14 February 2017, Toshiba delayed filing financial results, and Toshiba chairman Shigenori Shiga, formerly chairman of Westinghouse, resigned. Toshiba considered selling the Westinghouse nuclear business. On 29 March 2017, Toshiba's Westinghouse filed for Chapter 11 bankruptcy , citing

350-595: A US$ 7.9   billion deal including debt. Brookfield Renewable and its institutional partners will own a 51% interest in Westinghouse, while Cameco will own remaining 49% as part of the deal. The acquisition was completed in November 2023. Although no longer associated with CBS Corporation (now Paramount Global ), Westinghouse Electric Company LLC has for some years used the trademarks owned by Westinghouse Electric Corporation , by then Viacom/CBS Corporation/ViacomCBS' brand management subsidiary, under license, as

420-715: A budget of £95.05 million, which was largely cost-recovered from users, with a 2% grant from the DWP. Following the 2006 Energy review the Nuclear Installations Inspectorate developed the Generic Design Assessment process (GDA), now operated by ONR, to assess new nuclear reactor designs ahead of site-specific proposals. The GDA initially started assessing four designs: However the ACR-1000 and ESBWR were subsequently withdrawn from

490-429: A lack of faith in its own technology. Finally, the record of UK governments building nuclear plants had been a commercial disaster. On October 16, 2006 the acquisition of Westinghouse Electric Company for $ 5.4 billion was completed, with Toshiba obtaining a 77% share, partners The Shaw Group a 20% share and Ishikawajima-Harima Heavy Industries Co. Ltd. a 3% share. On 13 August 2007 Toshiba sold 10% to Kazatomprom ,

560-487: A media company. Portions of their nuclear business were initially purchased by Siemens in 1998 before the remaining parts were purchased by British Nuclear Fuels Limited (BNFL) in 1999 and formed up as Westinghouse Electric. In 2005, BNFL sold the company to Toshiba . The company went bankrupt in 2017 primarily due to ongoing cost overruns at the Vogtle Electric Generating Plant expansion,

630-565: A nuclear fuel fabrication plant at Västerås , Sweden which has provided nuclear fuel for Russian VVER-1000 nuclear reactors. In 2000 Westinghouse started development of fuel for customers in Finland and Hungary, supported by cheap Export–Import Bank of the United States loans, but the business remained small-scale in competition from cheaper Russian suppliers. A 2008 contract was agreed to supply VVER-1000 fuel; however, in trial use

700-536: A profit without one). Such bodies do not have shareholders , but are typically boards appointed by a sponsor minister. The provisions of the Companies' Acts do not typically directly apply to such bodies, although their founding legislation may specify similar requirements. The statutory corporation format was usually the form most state-sponsored bodies of the Republic of Ireland took until recent years; however,

770-700: A result of the enabling law. There are a number of federally chartered corporations that still exist. Some relatively famous ones include the Boy Scouts of America , each of the Federal Reserve Banks , and the Federal Deposit Insurance Corporation . The basic advantage for being federally chartered is that no other corporation anywhere in the United States is allowed to have the same name. Westinghouse Electric Company Westinghouse Electric Company LLC

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840-582: A statutory corporation). An earlier definition describes a statutory corporation as "a statutory authority that is a body corporate", and the New South Wales Government 's Land Registry Services defines a state-owned corporation as "a statutory authority that has corporate status". Current statutory corporations include Australia Post , Airservices Australia , the Australian Rail Track Corporation and

910-498: A subsidiary of CBS Corporation. In July 2005, BNFL confirmed it planned to sell Westinghouse, then estimated to be worth $ 2 billion. This attracted interest from several companies, including Toshiba , General Electric and Mitsubishi Heavy Industries . When the Financial Times reported on January 23, 2006 that Toshiba had won the bid, it valued the company's offer at $ 5bn (£2.8bn). On February 6, 2006 Toshiba confirmed it

980-568: A yearly loss for Toshiba that could exceed $ 9 billion, almost three times its previous estimate. The projects responsible for this loss were mostly the construction of four AP1000 reactors at Vogtle in Georgia and Virgil C. Summer Nuclear Generating Station in South Carolina. The Wall Street Journal reported that the four nuclear reactors being built in the southeastern U.S. would be left to an unknown fate. In July, 2017,

1050-574: Is a Kassenärztliche Vereinigung , a body involved in the provision of out-patient medical services in a German state. Other examples include public broadcasters, Jewish communities and Christian churches established in Germany and some public transport providers (depending on jurisdiction). In Hong Kong, some corporations are incorporated by legislation. An example is the Kowloon-Canton Railway Corporation , which owns

1120-493: Is a body corporate created by the legislature with defined powers and functions and is financially independent with a clear control over a specified area or a particular type of commercial activity. It is a corporate person and has the capacity of acting in its own name. Statutory corporations therefore have the power of the government and the considerable amount of operating flexibility of private enterprises. A few are: Features: Which define its objectives, power and duties. It

1190-601: Is accountable to Parliament through the Department for Work and Pensions (DWP) in matters of finance, governance and non-nuclear health and safety. Nick Baldwin CBE, former chief executive of Powergen (now E.ON UK ) was appointed part-time interim chair of the ONR on its formation, resigning as a non-executive director of Scottish and Southern Energy . On 21 February 2019, the Secretary of State for Work and Pensions announced that Mark McAllister would succeed Baldwin as Chair of

1260-524: Is an American nuclear power company formed in 1999 from the nuclear power division of the original Westinghouse Electric Corporation . It offers nuclear products and services to utilities internationally, including nuclear fuel , service and maintenance, instrumentation, control and design of nuclear power plants . Westinghouse's world headquarters are located in the Pittsburgh suburb of Cranberry Township, Pennsylvania . The company's main product

1330-622: Is created by a special law Of parliament. It may be established by the central government are also known as National corporations. In the Republic of Ireland , a statutory corporation is a body corporate, which is created under a particular Act of the Oireachtas . Some statutory corporations are expected to operate as if they were a commercial company (with or without a subsidy from the Exchequer , depending on whether or not it would make

1400-471: Is not used to describe a company which operates as a conventional shareholder-owned company registered under the Companies Acts. A public body can have a variety of forms and is not inevitably a statutory corporation, nor is a statutory corporation necessarily a public body. At the state level, municipal corporations and counties are often created by legislative acts. Some organizations such as

1470-494: Is the AP1000 , a modern pressurized water reactor (PWR) design with many passive safety features and modular construction intended to lower construction time and cost. Twelve AP1000 reactors are currently in operation with a further nineteen in various stages of planning. The company was initially formed as CBS Corporation spun off the remaining pieces of Westinghouse's industrial concerns, as part of Westinghouse's re-creation as

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1540-491: Is the case with other Westinghouse licensees . In 2021, ViacomCBS sold the Westinghouse licensing operation (including trademarks) directly to the now-independent Westinghouse Electric Corporation. A revived interest in the nuclear power generation field in the late 1980s led to Westinghouse's development of the AP600 reactor which received NRC approval . Interest in the Westinghouse design, but with larger power output led to

1610-530: The 2005 Indo-US nuclear deal , there was also hope that India's plan of massive investment in nuclear plants would help to revive the U.S. nuclear power industry. Reasons in favor of a sale were: The commercial risk of the company's business in Asia may have been too high for a company then owned by taxpayers; if Westinghouse won the bid for any new nuclear stations in a UK competition, questions may be raised of favoritism, but if it lost, it might have been seen as

1680-546: The Australian Egg Corporation . The purpose of their separation from normal government operations is to ensure profitability, and in theory, independence of decision making from the state or national government (to ensure that decisions are made on a commercial basis with less or no political interference.) As statutory corporations, their regulatory and business conditions may be significantly different from private-sector companies. A significant number of

1750-894: The Ffestiniog Railway , the Talyllyn Railway , the National Coal Board , Post Office Corporation and Transport for London . Other examples include the county councils , the National Assembly for Wales , the British Broadcasting Corporation (BBC), Channel Four Television Corporation , and the Olympic Delivery Authority . Statutory corporations are widely used in education: Sixth Form College Corporations and Further Education Corporations,

1820-861: The Food Safety Authority of Ireland . In the Netherlands , the term "public body" is the general denomination for administrative divisions within the Dutch state or certain other types of governmental organisations. In the United Kingdom , a statutory corporation is a corporate body created by statute . It typically has no shareholders and its powers are defined by the Act of Parliament which creates it, and may be modified by later legislation. Such bodies have often been created to provide public services, examples including British Railways ,

1890-556: The Nuclear Regulatory Commission since 2005 said that computations submitted by Westinghouse about the building's design appeared to be wrong and "had led to more questions." He said the company had not used a range of possible temperatures for calculating potential seismic stresses on the shield building in the event of an earthquake, for example. The NRC asked Westinghouse not only to fix its calculations, but also to explain why it submitted flawed information in

1960-708: The Board. Mark McAllister began his five-year appointment as ONR Chair on 1 April 2019. The ONR Board oversees the operation of the Chief Executive Officer (CEO) and the Chief Nuclear Inspector (CNI). John Jenkins, who was CEO from 2013 to 2015, resigned from his post on 28 February 2015 and was replaced by Les Philpott on 1 March 2015 as the Interim Chief Executive. Adriènne Kelbie was appointed Chief Executive and took up

2030-510: The CEO resigning, Toshiba stated that the Westinghouse nuclear business was more profitable than at acquisition in 2006. In December 2016, Toshiba said it expected to write down its investment in Westinghouse by US$ 2.5 billion, adding that it was possible that their investment in Westinghouse could ultimately have a negative worth, due to cost overruns at U.S. nuclear reactors it was building. In February 2017, Toshiba revealed unaudited details of

2100-858: The Chinese supply chain. Westinghouse Electric Company fully owns several subsidiaries in Europe, such as the European Service Center, also called Westinghouse Electric Belgium located in Nivelles , Belgium, where equipment is prepared for projects throughout Europe. After Westinghouse's 1990 takeover of ABB Reaktor in Germany, it transferred radiological storage activities located in Ladenburg , Germany, to consolidate in Nivelles, which had to be extended. Soon afterwards another expansion

2170-472: The DWP/ONR Framework document) was: "To provide efficient and effective regulation of the nuclear industry, holding it to account on behalf of the public". The 2013 Energy Act specified that ONR's five statutory purposes were: Nuclear safety; Nuclear site health and safety; Civil Nuclear security; Nuclear safeguards; Transport of radioactive materials. The ONR is governed by a ten-member board, and

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2240-751: The Energy Center in Monroeville, Pennsylvania , to Cranberry Woods in Cranberry Township, Butler County, Pennsylvania , as reported in a 2007 memo to its employees that stated the main reason was the rapid expansion of the global nuclear industry. Construction began in July 2007 and the move lasted from June 2009 to December 2010. The Repair, Replacement and Automation Services (RRAS) business segment moved to Cranberry Township earlier than other business segments to help alleviate space issues at

2310-702: The GDA process for the Hualong One (HPR1000) started, and successfully finished in February 2022. The ABWR GDA process completed successfully in December 2017. In 2020, the GDA process was updated to be more suitable for small modular reactors and advanced nuclear technologies. A three step process was introduced: On 1 April 2022, the GDA Step 1 of the 470 MWe Rolls-Royce SMR started. Step 2 will begin once

2380-665: The HSE's Nuclear Directorate (the Nuclear Installations Inspectorate, the Office for Civil Nuclear Security and the UK Safeguards Office) and — from 1 June 2011 — the Department for Transport 's Radioactive Materials Transport Team. Legislation to establish the ONR was included in the Energy Act 2013 , and it was formally launched as an independent statutory corporation on 1 April 2014. ONR’s original mission (as detailed in

2450-674: The US, and several other customers had chosen the AP1000, if they were to build new nuclear plants, for a combined total of at least 14 new plants, announced by the NuStart Consortium, Duke Power, Progress Energy, Southern Nuclear and SCE&G. In May 2011 after the Fukushima Daiichi nuclear disaster , US government regulators found problems with the design of the shield building of the new reactors. Gregory Jaczko , chairman of

2520-523: The Westinghouse Power Generation Business unit was sold to Siemens of Germany. In 1999, CBS Corporation sold its nuclear business ( Westinghouse Electric Company ) to British Nuclear Fuels Limited (BNFL) and a year later CBS Corporation was merged into Viacom (1971–2005) , putting an end to the original Westinghouse. Legally, Westinghouse Electric Corporation still exists, mainly for the purpose of licensing, as

2590-509: The appointment on 18 January 2016. In October 2017 Mark Foy was appointed Chief Nuclear Inspector; he was previously the Deputy Chief Nuclear Inspector. New leadership arrangements commenced on 1 June 2021 which saw Mark Foy become ONR's combined Chief Executive and Chief Nuclear Inspector. Donald Urquhart was appointed Executive Director of Regulation and Sarah High as Deputy Chief Executive. Additionally, Paul Fyfe

2660-509: The assessment for commercial reasons, leaving the EPR and AP1000 as contenders for British new nuclear builds. Assessment of the AP1000 was suspended in December 2011 at Westinghouse's request, awaiting a firm UK customer before addressing issues raised by the assessment. In 2012 Hitachi purchased Horizon Nuclear Power , announcing intent to build two to three 1,350 MWe Advanced Boiling Water Reactors (ABWR) on both of Horizon's sites. The GDA

2730-463: The associated descriptions (where provided). In Australia , statutory corporations are a type of statutory authority created by Acts of state or federal parliaments. A statutory corporation is defined in the federal Department of Finance 's glossary as a "statutory body that is a body corporate, including an entity created under section 87 of the PGPA Act" (i.e. a statutory authority may also be

2800-625: The change of the project to the AP1000 in 1999 and shortly after became the first Generation III+ reactor to receive final design approval from the NRC in 2004. As of 2014, four of these units are under construction in China, though the first was due to come on-line in November 2013. and has been delayed until December 2014. The delay due to the constantly changing, and consequently untested, design prompted Li Yulun, former vice-president of China National Nuclear Corporation, in 2013 to raise concerns over

2870-537: The co-owners of the V.C. Summer plant announced that the project was terminated. On September 24, 2017, the Post & Courier reported that Westinghouse had hired unlicensed workers to create mechanical and electrical blueprints for the V.C. Summer expansion without having a professional engineer sign off on them which was in violation of state law. The blueprints were often faulty and led to significant delays. The U.S. government had given $ 8.3 billion of loan guarantees on

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2940-421: The completion of the sale of Westinghouse's holding company to Brookfield Business Partners (a subsidiary of Canadian investment management company Brookfield Asset Management Inc.) and some partners for $ 4.6bn. In October 2022, Brookfield Renewable Partners (another subsidiary of Brookfield Asset Management) and Cameco announced the acquisition of Westinghouse Electric from Brookfield Business Partners in

3010-463: The continued undertaking of operations in ageing facilities due to delays to the delivery of modern standard replacement facilities." The ONR anticipated AWE would move back to normal regulatory attention in 2021 after the new facilities are completed. Statutory corporation Bodies described in the English language as "statutory corporations" exist in the following countries in accordance with

3080-719: The country to fulfill European Commission directives regarding international competition, Westinghouse started to expand its business in France with a Westinghouse team located in Metz in charge of repair, replacement and automation services. By 2005, Westinghouse had 160 employees in France and two-thirds of Westinghouse's business in France was fuel supply. Westinghouse Electrique France is located in Orsay and Manosque near Marseille (engineering development). As of 2014, about 400 employees are part of Westinghouse in France. Westinghouse owns

3150-405: The day after the designer, Westinghouse, filed for Chapter 11 bankruptcy because of $ 9 billion of losses from its nuclear reactor construction projects, mostly the construction of four AP1000 reactors in the U.S. On 21 September 2015 Energy Secretary Amber Rudd announced that a Chinese designed nuclear power station was expected to be built at Bradwell nuclear power station . On 19 January 2017

3220-506: The design of submarine nuclear power plants or nuclear weapons, and does not regulate security or transport of MOD nuclear materials. ONR responsibility includes assessing the response systems for nuclear weapon accidents at HMNB Clyde and RNAD Coulport , in Argyll , Scotland. Since about 2013 the ONR has given the two major Atomic Weapons Establishment (AWE) sites enhanced regulatory attention due to "safety and compliance concerns, and

3290-468: The early 1980s. Combustion Engineering (now Westinghouse) entered into a ten-year technology transfer program with the Korean nuclear industry aiming at self-reliance, which was extended in 1997. In December, 2006, China's State Nuclear Power Technology Company (SNPTC) selected Westinghouse to provide four new AP1000 nuclear power plants. The first was due to come on line in 2013, but has been delayed until

3360-638: The end of 2014. On 7 June 2016, Nuclear Power corporation of India have agreed to begin engineering and site design work for six nuclear power reactors in India and to conclude contractual agreements by June 2017. Westinghouse has been involved in South Africa through support of the Koeberg Nuclear Power Station since the 1990s, both reactors are Westinghouse-licensed. In 2007, Westinghouse acquired IST Nuclear (Pty) Ltd, and won

3430-448: The financing of the four nuclear reactors being built in the U.S. Besides the issues with the AP1000 design, the fuel manufacturing division has been profitable, but not enough to cover corporate overheads and support the other divisions. Research and development investment in fuel manufacturing has been low, which has impacted the quality and comparative performance of its fuel compared to competitors. On 6 April 2018, Toshiba announced

3500-416: The first US build of the company's AP1000 design. It emerged from bankruptcy after being purchased by Brookfield Business Partners , a Canadian private equity fund. They sold it to a consortium of Brookfield Renewable Partners and Cameco , a Canadian nuclear fuel and services company. Renewable Partners is the current majority owner of Westinghouse. Westinghouse Electric Company was formed in 1999, after

3570-526: The first place. Westinghouse countered that the "confirmatory items" that the commission was asking for were not "safety significant." In November 2011, the AP1000 Oversight Group published a report highlighting six areas of major concern and un-reviewed safety questions requiring immediate technical review by the NRC. The report concluded that certification of the AP1000 should be delayed until

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3640-521: The fuel became deformed. In 2015, the European Union awarded $ 2 million in funding to a Westinghouse-led consortium to support the development of a more competitive fuel for the Russian built reactors. In 2018, the contract to supply VVER fuel was extended to 2025. In 2018, Westinghouse, under a further EU-funded project, started developing VVER-440 fuel. In October 2022, Westinghouse

3710-570: The headquarters in Monroeville and was completed in spring of 2008. As part of this move, Westinghouse piloted the first commuter shuttle running an all-day loop between Monroeville and Cranberry Township. The shuttle ceased operation after Westinghouse formally closed, and sold their Monroeville facility in 2012. In 2015, concerns were expressed that the value of assets and goodwill in Westinghouse were overstated. Following an accounting scandal in which profits were overstated at Toshiba, leading to

3780-417: The legal form of Sixth Form Colleges and Further Education Colleges , as well as Higher Education Corporations, the legal form of most post-1992 universities , are all statutory corporations created under the Education Reform Act 1988 and the Further and Higher Education Act 1992 ; a small number of older universities are also statutory corporations created under specific acts of parliament. The phrase

3850-414: The national uranium company for the Republic of Kazakhstan , for US$ 540 million, leaving Toshiba with 67%. Kazatomprom's ownership was entirely passive, with no voting or veto rights or presence on the board of directors. In September, 2011, Toshiba was reported to be in talks to acquire the Shaw stake and both companies confirmed the story soon thereafter. Shaw CEO James Bernhard said , that Toshiba

3920-433: The original and current "unanswered safety questions" raised by the AP1000 Oversight Group are resolved. In December 2011, the UK's Office for Nuclear Regulation published a design assessment report on the AP1000 reactor which highlighted 51 'Generic Design Assessment' issues remaining that must be addressed before the assessment would be completed. In October 2013, US energy secretary Ernest Moniz announced that China

3990-417: The original company with that name, George Westinghouse 's Westinghouse Electric , founded in 1886, ceased to exist due to a series of divestitures and mergers through the mid-to-late 1990s. These included Westinghouse Electric's purchase of CBS in 1995, expansion into communications and broadcasting, and the selling off of most non-broadcast operations by 1998, renaming itself CBS Corporation . In 1998,

4060-509: The paperwork with the appropriate agency as part of the formation of the entity. At the Federal level, a small number of corporations are created by Congress . Prior to the District of Columbia being granted the ability to issue corporate charters in the late 19th century, corporations operating in the District required a congressional charter . With limited exceptions, most corporations created by Congress are not federally chartered, but are simply created as District of Columbia corporations as

4130-560: The railway network and was previously also an operator. The MTR Corporation Limited was also such a company, then named as Mass Transit Railway Corporation. Other examples include the Ocean Park Corporation , and the former Industrial Estates Corporation and Land Development Corporation . Statutory corporations are government establishments brought into existence by a Special Act of the Parliament. The Act defines its powers and functions, rules and regulations governing its employees and its relationship with government departments. This

4200-483: The safety standards of the plant. Citing a lack of operating history, he questioned the manufacturer's assertion that the AP1000 reactor's "primary system canned motor pumps" were "maintenance-free" over 60 years, the assumed life of the reactor, and noted that Westinghouse had yet to receive approval from British authorities on an improved version of AP1000. As of 2019 all four AP1000 reactors in China are operating. As of January 2009, six AP1000 plants had been ordered in

4270-409: The statutory corporations are private commercial operations, a number of which have been privatised, in part or in whole, since the 1980s: these have included the national airline Qantas , Telstra (also previously known as Telecom Australia) and the Commonwealth Bank . A statutory corporation in Germany is called a Körperschaft des öffentlichen Rechts (KdöR). An example of a statutory corporation

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4340-463: The timescales and resources have been agreed. Although the ONR is primarily a civil regulator, the ONR Defence Programme regulates military nuclear and conventional safety across a number of licensed and non-licensed nuclear sites, which are operated for the Ministry of Defence (MOD) nuclear defence capability. This is carried out under a complex legal regime, in conjunction with MOD’s Defence Nuclear Safety Regulator (DNSR). The ONR does not influence

4410-431: The usual policy today is that a private limited company by shares or public limited company incorporated under the Companies' Acts is set up instead, with the relevant minister holding 100% of the issued share capital. Nonetheless, as of 2007 several prominent statutory corporations continue to exist, such as Raidió Teilifís Éireann (RTÉ), the Electricity Supply Board (ESB), Bord Gáis Éireann , An Bord Pleanála ,

4480-419: Was agreed in April 2013. In August 2014 Westinghouse resumed the AP1000 assessment, after Toshiba and ENGIE purchased NuGeneration and announced plans to develop Moorside Nuclear Power Station with 3 AP1000s. In November 2016 the ONR noted there was a "very large amount of assessment to complete with issues still emerging". On 30 March 2017 the AP1000 successfully completed the GDA process, ironically

4550-407: Was appointed as Director of Regulation Civil Nuclear Security and Safeguards, Jane Bowie was appointed as Director of Regulation for New Reactors, Mike Finnerty was appointed Director of Regulation Operating Facilities, Paul Dicks was appointed Director of Regulation Sellafield, Decommissioning Fuel and Waste and Steve Vinson was appointed Technical Director. As of 2021 the ONR had about 650 staff and

4620-454: Was buying Westinghouse Electric Company for $ 5.4bn and announced it would sell a minority stake to investors. The sale surprised many industry experts who questioned the wisdom of BNFL selling one of the world's largest producers of nuclear reactors shortly before the market for nuclear power was expected to grow substantially; China , the United States and the United Kingdom were all expected to invest heavily in nuclear power. After

4690-411: Was necessary as employees in the Brussels office were transferred to Nivelles. It was estimated that 200 people were working in Nivelles at the end of 2011. In 2001, Westinghouse took over Logitest in Les Ulis , France, one of 3 companies qualified to inspect nuclear steam generator plants for Électricité de France . After the French nuclear market partially opened in 2004 to suppliers from outside

4760-524: Was paying US$ 1.6 Bn for the Shaw-owned 20% stake, and that it was the 50% rise in the yen on its yen-denominated debt over five years, which had led it to exercise its sale option. Toshiba said in late 2012 it was open to, and considering, having other partners invest in the business. The purchase closed in January 2013, and brought Toshiba's share in the company to 87% as a result of Shaw exercising its option. After several years of doing business there, Westinghouse decided to move its world headquarters from

4830-492: Was selected to build Poland's first nuclear power plant based on three AP1000 reactors, with possibly a further three at a later date. Westinghouse also has business locations in Italy, Germany, Spain, the UK, Russia, and Bulgaria. In South Korea, Westinghouse has been involved in the construction of new nuclear plants since 1972, with the first plant Kori Nuclear Power Plant starting up in 1977 and in commercial operation in 1978, followed by eight reactors under construction in

4900-411: Was to supply components to the US nuclear power plants under construction as part of a bilateral co-operation agreement between the two countries. Since China's State Nuclear Power Technology Co (SNPTC) acquired Westinghouses's AP1000 technology in 2006, it has developed a manufacturing supply chain capable of supplying international power projects. Industry analysts have pointed out that there are gaps in

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