Westinghouse Wins Contract to Provide Fuel Supplies to Ukraine

PITTSBURGH, March 30 /PRNewswire/ -- Westinghouse Electric Company today announced it has won a five-year contract to provide nuclear fuel supplies to three Ukrainian reactors beginning in 2011. Ukraine relies on nuclear power generation for nearly 50 percent of its energy requirements.

The genesis of Westinghouse's introduction into the Ukrainian nuclear fuel marketplace was an award in 2000 by the U.S. Government for the development of an alternative nuclear fuel supply which successive Ukrainian governments have supported. This contract represents a major commitment from both Westinghouse and Ukraine in ensuring that alternative and competitive nuclear fuel supplies are available to the benefit of Ukraine's nuclear energy provider and, ultimately, its citizens.

Aris Candris, Westinghouse Senior Vice President, Nuclear Fuel, said this contract is significant because it represents one of the largest energy supply diversification commitments in the history of Ukraine, greatly increasing the country's overall energy security.

"Westinghouse is extremely pleased to receive this landmark award that represents nearly one-quarter of Ukraine's annual nuclear fuel needs. The high confidence in Westinghouse's capabilities and competitiveness by the nuclear utility, Energoatom, through this contract marks an important milestone in the development of a competitive marketplace in Ukraine and throughout Central and Eastern Europe for nuclear fuel."

Westinghouse, a group company of Toshiba Corporation, is the world's pioneering nuclear power company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse technology today is the basis for approximately one-half of the world's operating nuclear plants.

Source: Westinghouse Electric Company

CONTACT: Vaughn Gilbert, Westinghouse Electric Company, +1-412-374-3896,
gilberhv@Westinghouse.com

Web site: http://www.westinghousenuclear.com/

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2008-03-30 17:02:01 0322597 PRNEWSWIRE