Mitsubishi to Enter U.S. Nuclear Power Market

From Reuters

Mitsubishi Heavy Industries Ltd. said it aimed to take advantage of the resurgence in the U.S. nuclear power market by launching a new advanced pressurized water reactor here in 2012.

The Japanese company, which lost to Toshiba Corp. in a race to buy U.S. nuclear plant maker Westinghouse Electric Corp. this year, added that it had formed a U.S. unit to develop its nuclear business.

A string of moves by Toshiba, Hitachi Ltd., General Electric Co. and other rivals have led to greater competitiveness in the global nuclear power market, which has regained popularity due to increasing energy demands in the United States and China as well as soaring oil prices.