Westinghouse Confirms Strategically Important Partnership With Czech Firm Vitkovice -- Partnership Covers Manufacturing and Installation of Modules for Proposed New Temelin Nuclear Power Plants

-- Westinghouse Vice President for EMEA Business & Development: "Deeper cooperation with Vitkovice will Further Strengthen Westinghouse's Local Supply Chain and Open New Opportunities for Exports Across the Region"

PRAGUE, July 9, 2012 /PRNewswire/ --  Westinghouse Electric Company today confirmed an important strategic partnership with Czech company Vitkovice a.s., in preparation for the potential construction of Westinghouse AP1000® nuclear power plants in the Czech Republic.

In accordance with the partnership, Vitkovice will join the Westinghouse/Toshiba/Metrostav team to jointly offer as a potential fabricator of key structural and mechanical equipment modules, should the AP1000 reactor be selected to complete the expansion of the Temelin Nuclear Power Plant.  The AP1000 has been designed to make use of modern modular-construction techniques, which allow many more construction activities to proceed in parallel.  This reduces the calendar time for plant construction, thereby reducing the cost of money and the exposure risks associated with plant financing.  These construction techniques are already being utilized with great success in the U.S. and China.  This potential scope of supply represents a very significant percentage of the total plant construction.

The strategic partnership marks a further important milestone in Westinghouse's ongoing activities to develop and subsequently deliver a highly competitive tender to CEZ, for the construction of two AP1000 reactors at the Temelin site in the South Bohemian region of the country.  It follows a number of important exclusive Memoranda of Understanding (MOUs) between Westinghouse and major Czech companies, notably I&C Energo and Metrostav, in an effort to establish a strong, diverse and high-quality local supply chain.  This new partnership builds on existing cooperation with Vitkovice, which includes a December 2011 MOU to explore opportunities to manufacture key components.

Speaking for Westinghouse, Vice President, EMEA Business & Development, Randy Galm said:

"This strategically important partnership with Vitkovice, to fabricate and install modules for the proposed new Temelin nuclear power plants, clearly illustrates Westinghouse's deep commitment to localization in the Czech Republic.  Supply development is critical to Westinghouse and that's why we think 'globally' but act 'locally.'  The successful delivery of these modules will also help the power plants are built on time and on budget.

"The fabrication of these important modules in the Czech Republic also represents an excellent opportunity for both Westinghouse and Vitkovice to eventually export these components throughout Europe, in anticipation of additional AP1000 reactors being built, thereby strengthening our regional supply chain base further and providing important additional opportunities to Vitkovice and other Czech manufacturing companies."

Jan Svetlik, Vitkovice a.s. chairman of the Board of Directors and president of the Czech Machinery Cluster, said:

"VITKOVICE MACHINERY GROUP has a long tradition supplying to the nuclear energy industry, both at home and abroad, with current annual orders in excess of several billion Czech crowns.  The members of the Czech Machinery Cluster are also ready to participate in new opportunities and challenges in the industry.  A qualified supply chain consisting of over 3000 trained and experienced individuals is ready to participate in the opportunities from the Temelin 3 & 4 project.  VITKOVICE MACHINERY GROUP, as well as all the other member companies of the Czech Machinery Cluster, has long-term intentions to participate in the nuclear industry.  Vitkovice is prepared not only for cooperation in the Temelin 3 & 4 project, but also on worldwide projects."

The Westinghouse AP1000 reactor received Final Design Certification from the U.S. Nuclear Regulatory Commission (NRC) on December 22, 2011.  Earlier that same month, the AP1000 was issued interim design approval in the Generic Design Assessment (GDA) process by U.K. Office for Nuclear Regulation.  The AP1000 is also compliant with European Utility Requirements (EUR), confirming that it can be successfully deployed in Europe.  To date, contracts for 10 AP1000 reactors have been placed around the world – four in China and six in the U.S.  Construction recently commenced on four units in the U.S. after utilities there received their combined construction and operating licenses (COL) in February and March 2012 respectively.  Construction on all four Chinese AP1000 units is progressing well and remains on schedule, with the first unit at Sanmen on track to produce electricity by the end of 2013. 

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, Pennsylvania.  Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants, including the design and supply of over 25 commercial nuclear units across Europe.

VITKOVICE is member of the VITKOVICE MACHINERY GROUP, the most important Czech engineering group with a strong position in selected segments of machinery production and in the area of supplies of large investment assemblies.  It incorporates approximately thirty companies.  The group consists of a modern, extensive and unique production base, coupled with substantial know-how based on research and development.  The VITKOVICE trade mark celebrated its 180th anniversary in December 2008.  VITKOVICE MACHINERY GROUP is an important supplier of components for nuclear power plants.  Pressurizers and steam generators manufactured in VITKOVICE serve in the Czech nuclear plants at Temelin and Dukovany, and also in other nuclear power plants outside the country, for example in Slovakia, Russia and India.

SOURCE Westinghouse Electric Company



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