Mitsubishi Heavy Industries might bid for Westinghouse Electric

Mitsubishi Heavy Industries has expressed desire to bid for the U.S. nuclear power plant builder Westinghouse Electric from their original owner Britain’s BNFL. The deal is worth more than a billion dollars and this is to help the Japanese tech giant to boost their strategic position in the overseas nuclear power plant market especially in China where the demand for this source of energy is growing rapidly.

The company normally relies upon public works projects but has been looking for more growth avenues to expand its financial capacities. This deal would be their first of its kind where they would be acquiring an international corporation to start expanding their business in other countries.

Mitsubishi Heavy representative Hideo Ikuno said in a statement: “We are considering buying Westinghouse and have told the company our intention. Mitsubishi and Westinghouse have been in partnership for 40 years and the two firms are in a complementary position (in business). If BNFL wants to sell Westinghouse, we want to buy.”

The company is still working out details on a possible bid and calculating what would make for a decent offer. They might also consider partnering with other companies to bid in collaboration to make it a success in the end.