Westinghouse and Curtiss-Wright Sign Strategic Nuclear Alliance
Initial Focus Will Be On Large Motor Refurbishment in North America
PITTSBURGH, June 28, 2012 /PRNewswire/ -- Westinghouse Electric Company announced today that it has signed a strategic alliance agreement with Curtiss-Wright Corporation's Flow Control business segment's Electro-Mechanical Division (EMD) business unit to jointly pursue and develop business opportunities for the refurbishment of large motors for commercial nuclear power applications in North America and to collaborate on new technology development.
The alliance will enable both companies and their customers to benefit from the combined capabilities and resources of two very experienced nuclear energy organizations. Westinghouse and Curtiss-Wright have several ongoing business agreements in support of operating nuclear plants around the world and AP1000® units under construction in China and the United States.
"This is a significant agreement for us as it marks another milestone illustrating Curtiss-Wright's long-standing commitment to the worldwide nuclear power market," said Martin R. Benante, chairman and CEO, Curtiss-Wright Corporation. "We are proud to continue our long-standing, strategic partnership with Westinghouse. With this agreement, we can leverage our joint capabilities to create immense value for current and future customers."
"The global nuclear energy industry has significant potential for growth and offers opportunities for both Westinghouse and Curtiss-Wright," said Ric Perez, chief operating officer of Westinghouse Electric Company. "Building on many significant years of combined experience and know-how makes sense to compete in a high-technology marketplace. Our respective nuclear businesses are combining forces aimed at strengthening our ability to compete effectively and improving the technologies and product offerings to customers to make the most of future opportunities."
Westinghouse Electric Company, a group company of Toshiba Corporation (TKY: 6502), is the world's pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world's first pressurized water reactor in 1957 in Shippingport, Pa. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants, including 60 percent of those in the United States.
Curtiss-Wright Corporation is an innovative engineering company that provides highly engineered, critical function products, systems and services in the areas of flow control, motion control and metal treatment to the defense, energy and commercial/industrial markets. The legacy company of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of design and manufacturing innovation along with long-standing customer relationships. The company employs approximately 8,900 people worldwide. For more information, visit www.curtisswright.com.
SOURCE Westinghouse Electric Company
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