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Japan’s Toshiba, facing large cost overruns on flagship projects and continuing fallout from a financial scandal, delayed publication of its financial results for a second time on 14 March and said it would consider selling its controlling stake in it’s Westinghouse US subsidiary. Toshiba also suggested that Westinghouse could file for Chapter 11 bankruptcy protection. Acknowledging its worst ever financial crisis, Toshiba announced a three-year growth plan including proposals to improve its management.
- Source: NEI Magazine
- Date: Wednesday, 15 March 2017
- Original article: neimagazine.com/news/newstoshiba-considers-sale-of-westinghouse-5763859