Westinghouse and State Nuclear Power Technology Corp. Form Joint Venture to Better Serve Global Market

BEIJING – May 13, 2013 – Westinghouse Electric Company and State Nuclear Power Technology Corp. (SNPTC) today announced the opening of a joint venture, SNPTC-WEC Nuclear Power Technical Services (Beijing) Co., Ltd, to provide supplier qualification services to the global AP1000® nuclear power plant market.

The joint venture will work to accomplish the goal of qualifying suppliers and further developing the supply chain within China for AP1000 nuclear power plant equipment and components to be used there. The JV will also work toward a goal of exporting equipment and components made by qualified Chinese suppliers to other global markets, and importing components and equipment made by qualified suppliers elsewhere in the world for use in China.

This joint venture will incorporate the international experiences and standards in quality and safety of both companies and work to improve the performance of the global nuclear industry, said Westinghouse President and CEO Danny Roderick. “One of the most important roles of this joint venture is the contribution it can make to the overall quality and safety of nuclear equipment worldwide,” he said.

“This joint venture also provides the opportunity for collaboration in new markets. We expect to provide new opportunities for business both within and outside of China. By forming this joint venture, we have a mechanism for delivering our goods and services together to a broader range of customers, delivering mutual business success,” said Roderick.

“This joint venture is the latest case to show that Westinghouse and SNPTC are strategic partners in providing products and services that will help future generations in China and elsewhere around the world with safe, clean and reliable electricity,” said Wang Binghua, Chairman, SNPTC.

Westinghouse and SNPTC have a long and historic partnership in China. The two companies are currently working together with other Chinese companies to build the world’s first AP1000 nuclear power plants at Sanmen and Haiyang, China.

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.

State Nuclear Power Technology Corporation (SNPTC) is the general contractor of the first four AP1000 units in the world being built in China. By working together with overseas partners, SNPTC is working on providing safe, clean, economic and reliable energy by advanced nuclear technology, products and services.