Westinghouse enters nuclear alliance

PITTSBURGH, June 28, 2012 /PRNewswire/ — Westinghouse Electric Company announced today that it has signed a strategic alliance agreement with Curtiss-Wright Corporation’s Flow Control business segment’s Electro-Mechanical Division (EMD) business unit to jointly pursue and develop business opportunities for the refurbishment of large motors for commercial nuclear power applications in North America and to collaborate on new technology development.

The alliance will enable both companies and their customers to benefit from the combined capabilities and resources of two very experienced nuclear energy organizations.

Westinghouse and Curtiss-Wright have several ongoing business agreements in support of operating nuclear plants around the world and AP1000® units under construction in China and the United States.

“This is a significant agreement for us as it marks another milestone illustrating Curtiss-Wright’s long-standing commitment to the worldwide nuclear power market,” said Martin R. Benante, chairman and CEO, Curtiss-Wright Corporation.  “We are proud to continue our long-standing, strategic partnership with Westinghouse.  With this agreement, we can leverage our joint capabilities to create immense value for current and future customers.”

“The global nuclear energy industry has significant potential for growth and offers opportunities for both Westinghouse and Curtiss-Wright,” said Ric Perez, chief operating officer of Westinghouse Electric Company.  “Building on many significant years of combined experience and know-how makes sense to compete in a high-technology marketplace.  Our respective nuclear businesses are combining forces aimed at strengthening our ability to compete effectively and improving the technologies and product offerings to customers to make the most of future opportunities.”