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U.S. nuclear firm Westinghouse sees end to bankruptcy proceedings in 2018

Reuters  |  LONDON 

By Geert De Clercq and Susanna TwidaleLONDON (Reuters) - U.S. nuclear reactor maker Westinghouse does not expect to come out of Chapter 11 bankruptcy proceedings before the end of 2017 but hopes to complete restructuring in early 2018, its CEO said. Cost overruns at four nuclear reactors it was building in the United States pushed Westinghouse, a unit of Japan's Toshiba Corp, into bankruptcy in March.Utilities in the U.S. state of South Carolina abandoned construction of two of those reactors in July.Asked when the company could emerge from Chapter 11 proceedings, Westinghouse Chief Executive ...

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First Published: Fri, September 15 2017. 17:51 IST