TOKYO -- Toshiba plans to acquire a Japanese nuclear fuel producer from its former U.S. subsidiary Westinghouse Electric and other shareholders, looking to shore up its foundering atomic energy business.
The Japanese conglomerate said in October it would buy Westinghouse's 52% interest in Nuclear Fuel Industries for $1. Toshiba will make a decision as early as this month on acquiring the 24% stakes held by Furukawa Electric and Sumitomo Electric Industries, probably for small sums, which would turn the fuel maker into a wholly owned subsidiary.
