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2 April 2007 -- Toshiba Corp. paid $10 million for 61 percent of Regenco LLC to expand in the North American market for turbine maintenance and services.

Regenco had sales of $27 million last year and Tokyo-based Toshiba aims to double that by 2010, Hiroko Mochida, a spokeswoman for the Japanese company, was reported by Bloomberg as saying. The U.S. company, once a unit of Germany's Siemens AG, is based in West Allis, Wis., and employs 120.

Toshiba forecasts that North America's market for turbine services will expand by one-fourth to $2 billion annually over the next four years. The Japanese company has delivered 80 steam turbine generators in North America and predicts the number will exceed 100 by 2010, driving demand for maintenance and spare parts.

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