KYIV, April11, 2014 -- Westinghouse ElectricCompany and the National Nuclear EnergyGenerating Company of Ukraine (NNEGC Energoatom) today agreed to a contractextension for fuel deliveries to Ukrainian nuclear power plants through2020.  The contract provides for thecontinuation of the long-standing partnership between the two companies inproviding competitive and secure nuclear fuel supplies for Ukraine’s reactorfleet. 

“We are very pleased to be astrategic partner with Energoatom and assisting them in diversifying theirsupply of fuel deliveries. This new agreement for Westinghouse VVER fuel designtestifies to the quality of our fuel design and demonstrates that it has, infact, operated without issue at the South Ukraine Nuclear Power Plant, as confirmedby extensive and recent joint Energoatom and Westinghouse inspections.

Thiscontract extension recognizes that Westinghouse fuel has been fully validatedto be safely loaded and operated,  eventaking into account the performance  problemsof  the competitor’s  fuel.  Thisagreement recognizing the excellent Westinghouse VVER fuel design performance willallow Energoatom to continue diversification of its fuel supply,” said Danny Roderick,Westinghouse president and CEO. “We expect that with continued superior resultsand competitive efficiency of our fuel design, Westinghouse will grow its shareof the Ukrainian nuclear fuel market.”

Westinghouse originally signed a contract for nuclear fuel in 2008.  The contract amendment will extendWestinghouse deliveries through 2020. Under terms of the contract executed with Westinghouse Electric SwedenAB, Westinghouse will produce the fuel at its fabrication facility in Västerås,Sweden.  The Vasteras facility is one ofthe largest and most modern fuel plants in the world, serving every majormarket in Europe and South Africa.  

Westinghouse is asingle-source fuel provider for pressurized, boiling and advanced gas-cooledreactors worldwide and has 10 fuel manufacturing locations around the world,including two manufacturing sites in Europe: Westinghouse Springfields(Preston, Lancashire, U.K.) and Westinghouse Electric Sweden (Västerås,Sweden). Westinghouse is currently providing fuel for 147 nuclear power plantsworldwide.

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Westinghouse Electric Company, a group company of Toshiba Corporation (TKY:6502), is the world's pioneeringnuclear energy company and is a leading supplier of nuclear plant products andtechnologies to utilities throughout the world.  Westinghouse supplied theworld's first pressurized water reactor in 1957 in Shippingport, Pa.,U.S.  Today, Westinghouse technology is the basis for approximatelyone-half of the world's operating nuclear plants, including more than 50percent of those in Europe.

State enterprise National Nuclear Energy Generating Company (NNEGC Energoatom) was established in October, 1996.The company is the operator of all running nuclear power plants of Ukraine. Itsmain task is to increase electricity production and the NPPs’ capacity factorwhile ensuring continued improvement of the operational safety.