Westinghouse’s core business remains strong and the company intends to emerge from Chapter 11 bankruptcy stronger, better and more competitive, interim president and CEO José Gutíerrez said yesterday. Gutiérrez’s speech to the Nuclear Energy Assembly – the US Nuclear Energy Institute’s (NEI’s) annual conference for the US nuclear industry, held this week in Arizona – was his first discussion of Westinghouse’s current situation in an open forum since the company’s 29 March bankruptcy filing. He said it was important to note that the filing focuses on the construction of the four US reactors at Vogtle and VC Summer. The company’s AP1000 construction projects in China are making good progress, and the company remains confident that AP1000 is “good technology,” he said. The bankruptcy filing was a strategic move to “reset the financial footprint” of the company to address construction issues at US projects, while protecting the company’s core business, he said. The projects have been beset by significant cost overruns.
World Nuclear News 25th May 2017 read more »