www.777888hg.com Westinghouse Electric announces bankruptcy on Tuesday: loss of $ 9 billion

Westinghouse Electric announces bankruptcy on Tuesday: loss of $ 9 billion

Public number: Silicon Valley software Source: Time: 2020-02-21 01:24:26

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According to Reuters, Toshiba ’s nuclear power company Westinghouse Electric is about to declare bankruptcy on Tuesday, and such a decision is likely to bring greater losses to Toshiba, which is likely to expand to $ 9 billion. After Westinghouse applied for bankruptcy protection, it will be forgiven part of its debt and then resume operations. Toshiba is also contacting the Korea Electric Power Corporation for help.

Westinghouse Electric announces bankruptcy on Tuesday: loss of $ 9 billion

Toshiba is likely to transfer Westinghouse assets in the future, and Korea Electric Power is very interested. Toshiba has previously announced that they will write down $ 6.3 billion of assets in the U.S. nuclear power business because of debt problems with Westinghouse's acquisition of assets. The current situation will worsen, and the loss to Toshiba from this sale is likely to reach $ 9 billion.

Earlier, Guo Taiming, chairman of Hon Hai, stated publicly that he had great sincerity in acquiring a majority stake in Toshiba Storage. Now citing Reuters news, Toshiba has no intention of selling the chip business to Foxconn Technology Group. People familiar with the matter said that the Japanese government is concerned that companies that acquire the chip business have close relations with China, which will lead to the outflow of key technologies. Toshiba understands the Japanese government's concerns and "takes into consideration the close relationship between bidders and China." Foxconn has multiple production lines in mainland China.

It is understood that Toshiba Storage is the world's second largest flash memory manufacturer. Since Toshiba said it will sell most of its shares, about ten companies are in contact with Toshiba and hope to acquire flash memory subsidiaries, including Foxconn Group, Micron Technology, South Korea's Hynix, Apple, Bain Capital, Microsoft and other companies.

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