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Sale of Westinghouse Signals New Growth of Nuclear Plants

HeadlineFeb 07, 2006

In business news, the Japanese company Toshiba has bought nuclear power plant manufacturer Westinghouse for $5.4 billion — a pricetag three times higher than expected. The high price reflects a renewed interest by Asian governments and the Bush administration to build a new generation of nuclear power plants. One energy analyst said, “We are seeing an indication of a nuclear power renaissance globally and in particular in the U.S.” China plans to build 27 new nuclear reactors over the next 15 years. And here in the U.S. President Bush has proposed spending $250 million next year on a new nuclear fuel reprocessing initiative to encourage the construction of the first new plants in a generation.

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