Westinghouse Surprised and Disappointed with Latest Legal Decision on Koeberg Contract

Westinghouse Electric Company is surprised and disappointed with the outcome of its challenge to the legality of the decision by Eskom's Board Tender Committee to award the tender for the provision of six new steam generators, to be installed in the two nuclear reactors at the Koeberg nuclear power station, to Areva. The finding was passed down following the hearing from February 17 to 19, 2015 in the High Court (Gauteng Local Division, Johannesburg, Pritchard Street), during which each party stated its case before open court. Subject to a review of the court’s reasons, Westinghouse intends to appeal the decision.

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.