Westinghouse Settles

After an acrimonious seven-year legal battle over a stalled nuclear plant, Westinghouse Electric is paying the government of the Philippines $100 million in cash and equipment to settle the dispute. But the chief beneficiary of Westinghouse's deal is a competitor, Mitsubishi Heavy Industries. The Filipinos had barred Mitsubishi from a separate $1.4 billion power contract because of the company's use of Westinghouse-licensed technology. So Mitsubishi pressed Westinghouse to end its fight. Now Mitsubishi is likely to reel in the power contract while Westinghouse takes a hit.

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