WESTINGHOUSE-ELECTRIC

Westinghouse Electric Company signed memorandums of understanding (MOUs) with UGL Limited, Saab Australia Pty Ltd. and Teralba Industries as a first step in welcoming the Australian suppliers to become part of the Westinghouse global supply chain. This development also sets the stage for these companies to gain experience and skills necessary for nuclear power to be developed as a source of electricity production for Australia, should the country decide on this path in light of carbon reduction goals.

“Our goal is to be the first to innovate the next solution that will help more countries generate more clean, reliable, affordable electricity for more people,” said Westinghouse President and CEO Danny Roderick, while in Sydney to sign the MOUs. “We’re proud that Westinghouse technology has brought clean air, power and light to millions of people across the globe, and we’re excited to help Australia explore ways to create jobs and economic opportunity that are also good for the environment.”

All of the companies have prior experience in the broader nuclear industry. For example, Saab Australia will draw on experience from delivering integrated communications, security and incident management systems for critical infrastructure around the world, and advanced training systems and processes to security and emergency response personnel for nuclear facilities in the U.S. Teralba has valuable experience meeting and exceeding the expectations in the nuclear industry through high-quality work performed for the Australian Nuclear Science and Technology Organisation. UGL has been performing major maintenance and minor capital work in relation to mining of uranium in South Australia.

Westinghouse seeks to establish and build global cooperation in its mission to help meet world electricity demand with clean and reliable baseload energy. The MOUs extend this cooperative range to Australia, and provide the suppliers the opportunity to become a part of Westinghouse’s international nuclear supply chain.

In 2015, the South Australian Government set up a South Australia Nuclear Fuel Cycle Royal Commission to investigate the potential for nuclear power as an energy resource for the country. Currently, Australia generates 86 percent of its electricity from fossil fuels mined within its boundaries and is one of the world’s highest emitters of carbon dioxide of any major western nation per capita.

Australia does not currently use nuclear energy as a resource to meet in-country electricity demand but contains the world’s largest uranium deposits, with known uranium resources of 31 percent of the globe’s total. If Australia turns to nuclear power to reduce emissions, the country could potentially supply 70 percent of the resources required to build an AP1000® plant in Australia, including supplying the uranium for fuel.

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. AP1000 is a trademark of Westinghouse Electric Company LLC. All rights reserved.

UGL Limited (ASX: UGL) is a leading provider of engineering, construction and maintenance services with a diversified end-market exposure across the core sectors of rail, technology systems, power, resources, water and defence. Headquartered in Sydney, Australia, UGL operates across Australia, New Zealand and Southeast Asia employing over 8,000 people, including subcontractors.

Saab serves the global market with world-leading products, services and solutions within military defence and civil security. Saab has operations and employees on all continents around the world. Through innovative, collaborative and pragmatic thinking, Saab develops, adopts and improves new technology to meet customers’ changing needs.

Teralba Industries is an Australian company and an established, trusted and leading manufacturer of high quality stainless alloy products, specialising in heat transfer systems, industrial mixers and stainless steel pressure vessels.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151007006405/en/

Contact:

Westinghouse Communications
Sheila Holt, +1-412-374-6379
holtsa@westinghouse.com

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