August 13, 2007 (LPAC)--In a bid to secure uranium from Kazakhstan, Japan's Toshiba has sold a 10% shareholding in U.S. Westinghouse to Kazatomprom, Kazakhstan's uranium mining concern. Kazakhstan is the world's third largest uranium producer, and Westinghouse is a leading world producer of nuclear power stations.

"The Alliance of Toshiba, Kazatomprom, and Westinghouse will lead to a global increase in nuclear energy production," Kazatomprom said, according to Bloomberg.

Before this sale, Toshiba held 77% of Westinghouse, while the Shaw Group held 20% and Japan's Ishikawajima-Harima heavy Industries Co., 3%.