BNFL plans sale of US subsidiary

British Nuclear Fuels today confired controversial plans to sell a US-based subsidiary in a move likely to raise around £1bn (€1.5bn) for the UK taxpayer.

The sale of Westinghouse, the nuclear power station construction and services business, was announced as state-owned BNFL said it had cut losses before one-off items to £144m (€212m), from £283m (€417m) in the year to March 31, 2004.