Posted on 10/17/2006 3:15:07 PM PDT by RS_Rider
Ownership of Westinghouse Electric Co. was transferred from British to Japanese hands yesterday as Toshiba Corp. completed the purchase of the Monroeville-based nuclear power plant company from British Nuclear Fuels PLC for $5.4 billion. An official announcement of the deal was expected this morning. Top officials of Toshiba, who are expected to be in town Friday to speak to Westinghouse employees, have said they intend to keep the company headquartered in Monroeville and retain current management and staff, which number about 3,000 locally and 9,000 worldwide.
(Excerpt) Read more at post-gazette.com ...
Toshiba switchgear???
Toshiba Electric, as in "Sorry Sylvania" in the old TV ads.
To commemorate this very special occasion, we will be having a ceremony at our Energy Center Headquarters on Friday, October 20. Energy Center Complex employees will be invited to attend...
Lucky you!
Was Westinghouse Electric always a British company? I thought it to be American.
Didn't Westinghouse invent the airbrake?
No, British Nuclear Fuel Ltd. bought Westinghouse a few years ago from Viacom.
"You can be sure..."
Unfortunately, I caught the axe last week. As it turns out Westinghous hired too many new people and China has not signed a pending contract for 4 new reactors yet. I'm a scumbag contractor so I was told to go somewhere else and work. Missed the big ceremony. There's a big portrait of George Wetinghouse at the entry way, cant imagine what he might have thought of his empire being sold to the Japanese.
If Old George was coupled up to a generator I bet he'd be spinning fast enough to generate a kilowatt or two.
Of what used to be 154 business units, the nuclear division is the only one to still carry the Westinghouse name. It's just a name, the empire is dead and burried.
A lot of folks I knew blamed Michael Jordan for that..
Not the same Toshiba that sold machine tool sets for making submarine propellors?
My opinion is that if they go through with the China deal, China will be providing the world with the latest in nuclear technology. They don't play nice!
I'll bet the shareholders wished the basketball guy was running the show.
Mass firing?
Yup.
Golly, I hope not!
No doubt...I enjoyed working there when I did, too bad the company was wholesale dismantled.
no mass firing, thinning of expendables
Wrong Jordan-- we had "Chainsaw Jordan", who sold off the most profitable divisions, like Thermoking.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.