Westinghouse to Provide Finland's TVO with Advanced Reactor Internal Pumps

VÄSTERÅS – Westinghouse Electric Company today announced that it received a contract in excess of 40 million euros from Teollisuuden Voima Oyj (TVO) to deliver 12 advanced reactor internal pumps for Finland’s Olkiluoto Units 1 and 2 boiling water reactors. This investment, a prerequisite for TVO to secure a long-term, safe and reliable operation of their nuclear reactors, also will allow for possible future power uprates.

Under the terms of the contract Westinghouse Electric Sweden AB will be responsible for managing the overall project, as well as installation and commissioning. Westinghouse will partner with KSB Aktiengesellschaft (KSB) for the manufacturing and testing of the pumps and valves, and equipment testing, including a full-scale test which will be performed by Toshiba Corporation in Japan.

The reactor internal pumps are part of the main circulation circuit that provides the rotation of water through the reactor core. Each reactor vessel has six internal pumps. Installation and testing is scheduled during the 2016, 2017 and 2018 maintenance outages.

Westinghouse Vice President and Managing Director for Northern Europe, Johan Hallén, said: “This contract reflects TVO’s continued high confidence in the quality and reliability that Westinghouse delivers. This unique project demands a high level of technology made possible through good cooperation among Westinghouse, KSB and Toshiba.”

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., U.S. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants, including more than 50 percent of those in Europe.

Toshiba Corporation, a Fortune Global 500 company, channels world-class capabilities in advanced electronic and electrical product and systems into five strategic business domains: Energy Infrastructure, Community Solutions, Healthcare Systems Services, Electronic Devices Components, and Lifestyles Products Services. Guided by the principles of The Basic Commitment of the Toshiba Group, “Committed to People, Committed to the Future”, Toshiba promotes global operations towards securing “Growth Through Creativity and Innovation”, and is contributing to the achievement of a world in which people everywhere live in safe, secure and comfortable society.

Founded in Tokyo in 1875, today’s Toshiba is at the heart of a global network of over 590 consolidated companies employing over 200,000 people worldwide, with annual sales surpassing 6.5 trillion yen (US$63 billion).

To find out more about Toshiba, visit www.toshiba.co.jp/index.htm.

Teollisuuden Voima Oyj is a Finnish nuclear power company founded in 1969 for safe and reliable production of electric energy to the Finnish society at a reasonable price. The nuclear power generated at TVO's Olkiluoto plants accounted in 2013 for ca. one sixth of the total energy consumption in Finland. Clean energy production not only benefits the Finnish society but also contributes to the global reduction of environmental impact.

KSB Group is a leading international manufacturer of pumps and valves. The Frankenthal-based Group has a presence on all five continents with its own sales and marketing organisations, manufacturing facilities and service operations. The workforce of 16,500 worldwide generates a total sales volume of more than € 2.2 billion.

Westinghouse Electric Company, LLC, 1000 Westinghouse Drive Communications, Suite 170, Bay 517A, Cranberry Township, PA 16066 United States

CONTACT: Hans Korteweg, Communications Manager

Westinghouse Europe, Middle East & Africa

+32 (0)2 645-7162 (office)

+32 (0)479-75-13-60 (mobile)


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