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Toshiba and GDF Suez have reached agreement for the £10bn development of three nuclear power plants in Cumbria, with the creation of 21,000 jobs.

Toshiba is to acquire a 60% stake in NuGeneration for about £102m, in order to join GDF Suez and Iberdrola in the development of three nuclear plants in West Cumbria.

Toshiba is launching a new Midlands division to provide printer, copier and fax systems through its Electronic Imaging Solutions subsidiary, which will involve the creation of 35 jobs at a new office in Aldridge.

Toshiba is planning to invest £0.5m at its Plymouth factory in order to step up production of wide-screen TVs, despite speculation that its Japanese parent has considered closing the site due to the strong pound.

Toshiba is to invest £10m at a new laboratory in Bristol over the next five years, in order to research new mobile phone technology.

Toshiba is to expand production of microwave oven components and TV sets at its Plymouth factories, creating up to 100 jobs.