Westinghouse Electric files for bankruptcy

Fortune Magazine

This is the Pittsburgh based subsidiary that builds equipment for nuclear power plants, that was acquired by the troubled company that was rocked by an accounting scandle in 2015.

Part of what is hurting Westinghouse is that fracking for natural gas is undermining the cost structure of nuclear power generation. Scana Corp is currently building two new nuclear power generation units in South Carolina and began making preparations about 6 months ago for the possibility of Toshiba withdrawing and never completing the plants.

They just announced they will be holding a news conference today

http://www.prnewswire.com/news-releases/scana-corporation-to-hold-analyst-call-on-march-29-2017-to-discuss-plans-to-continue-work-on-the-new-nuclear-project-during-a-transition-and-evaluation-period-300431016.html

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