Climate Changed
How an American Tech Icon Bet on Nuclear -- and Lost
- Westinghouse struggled with the cost of building reactors
- Even with Toshiba’s backing, company files for bankruptcy
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Westinghouse Electric Co., once synonymous with America’s industrial might, wagered its future on nuclear power -- and lost.
Now a unit of Japanese technology giant Toshiba Corp., Westinghouse on Wednesday filed for Chapter 11 bankruptcy-court protection, citing as much as $10 billion in debt. The company will continue operating while it comes up with a plan to repay at least part of what it owes.