CBS cuts nuclear offers to two

Article Abstract:

Morrison Knudsen Corp.'s (MK) partnership with British Nuclear Fuels Ltd. (BFNL) of Great Britain, UK, is the leading bidder for CBS-owned Westinghouse Electric's nuclear energy and government operation units based in Pittsburgh, PA. Two other companies, Bechtel Group Inc. of San Francisco, CA, and its foreign nuclear partner Framatome SA of France, and McDermott International of New Orleans, LA, are also considered finalists in the Westinghouse bidding. CBS, which did not confirm nor deny that the MK-BFNL bid was the top choice, said a decision will be reached soon. CBS put up for sale the two remaining Westinghouse Electric operations after efforts to spin them off into a separate company did not push through.

Comment:

is bidding for CBS' Westinghouse Electric's nuclear energy and government operation units in Pittsburgh, PA

United Kingdom, Nonbuilding Construction, Highway, Street, Bridge, and Tunnel Construction, France, California, Industrial Nonbldg Constructn, Industrial Nonbuilding Structure Construction, Louisiana, Idaho, Construction industry, Heavy construction, Industrial construction, CBS Broadcasting Inc., Framatone S.A., Bechtel Corp., McDermott International Inc.

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WE sold, will stay

Article Abstract:

Morrison Knudsen Inc. and British Nuclear Fuels Ltd. have acquired the nuclear energy and government operations divisions of Westinghouse Electric from CBS Corp. in a deal worth nearly $1.2 billion, including $238 million in cash, along with the assumption of product and other liabilities worth $950 million. Westinghouse Electric's two remaining divisions, which are based in Monroeville in Pittsburgh, PA, still employ approximately 6,000 workers at facilities regionwide and 24,000 workers worldwide. Both Morrison Knudsen and British Nuclear stated that the two divisions will maintain their Westinghouse Electric name and their Monroeville headquarters.

Comment:

Acquires the nuclear energy & govt operations divisions of Westinghouse Electric from CBS Corp w/ Morrison Knudsen Inc

CBS Corp.

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Emerson buys WE control division

Article Abstract:

Emerson Electric Co.,a St. Louis, MO-based maker of electrical equipment, will purchase the process control division of Westinghouse Electric in O'Hara, PA, for $265 million in cash. Westinghouse's process control division manufactures, circuit boards and other electrical instruments that produce a process control system. As part of the purchase deal, Emerson will take on pension and other liabilities and will offer technology, parts and services to Westinghouse's nuclear energy businesses. According Emerson officials, the firm intends to keep the Westinghouse division's name and its 730 workers, which are mostly based in O'Hara.

Comment:

Will purchase process the control division of Westinghouse Electric in O'Hara, PA, for $265 million in cash

Electrical & Electronic Equip, Electrical Equipment, Appliance, and Component Manufacturing, Facilities & equipment, Other Electrical Equipment and Component Manufacturing, Electronics, Missouri, Emerson Electric Co.

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