Warrington, UK, Jan. 24, 2006 — British Nuclear Fuels plc (BNFL) announced that it has selected Toshiba Corp., the highest bidder, as the preferred bidder for the sale of Westinghouse Electric Co.
BNFL CEO Mike Parker called the bid “a win-win” situation for his employees and British taxpayers.
BNFL conducted a fair bidding process designed to ensure a level playing field and secure the best business result, the company said in a recent press release.
The announcement comes after multiple rounds of bidding that began in the autumn. BNFL expects the sales contract to be signed in the near future.
The Toshiba bid will be recommended for approval by the BNFL Group Board later this week.