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Shaw sells stake in Westinghouse

US engineering firm Shaw has decided to sell its 20% stake in nuclear vendor firm Westinghouse this week.

Japanese technology firm Toshiba will buy Shaw’s 20% share in Westinghouse, bringing their control over the firm up to 87%. A Westinghouse statement said the firm will still continue to work with Shaw on its projects in the USA, China and UK.

Toshiba and Shaw bought a majority stake in Westinghouse from now defunct UK nuclear firm British Nuclear Fuels Limited in October 2006. Since 2006, the firm has won ten orders for its third generation AP1000 nuclear reactor in the USA and China.

Westinghouse is currently competing against Areva to be selected by nuclear new-build consortium Horizon for its site in Wylfa on the Isle of Anglesey.

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