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WESTINGHOUSE AND ROC ESTABLISH BROAD-BASED BUSINESS ALLIANCE

 TAIPEI, Taiwan, Nov. 9 /PRNewswire/ -- Westinghouse Electric Corporation (NYSE: WX) today signed a letter of intent with the Republic of China's (ROC) Ministry of Economic Affairs to create business ventures with companies in Taiwan.
 Westinghouse Chairman and Chief Executive Officer Michael Jordan signed the document in Taipei with the Vice Minister of Economic Affairs, Shih-Chien (George) Yang.
 "The ROC has long been an ideal environment for developing business initiatives, including investment opportunities," said Jordan. "Westinghouse recognizes the ROC's goal of becoming the gateway to the Asia market. We're pleased with the country's initiatives, and look forward to working with ROC-based companies to jointly pursue opportunities in the Pacific Rim and beyond."
 The terms of the document will enable the U.S.-based Westinghouse to work with the ROC to develop business activities that draw from the full range of Westinghouse capabilities -- from power systems and environmental technologies to electronic systems and industrial technologies.
 "The strategic alliance agreement allows Westinghouse and selected ROC companies to explore and implement research and development activities, technology and business development, marketing initiatives, and financing and investment joint ventures," said Jordan.
 "These activities are intended to enhance the ROC's industrial technology and design and manufacturing capabilities, increase sales of products and services outside of the ROC, and develop the country as a regional operation and profit center in Asia."
 Westinghouse has been operating in the ROC for over 40 years. Westinghouse currently has two notable relationships with enterprises here: an agreement with MITAC, Inc. to jointly develop commercial electronic systems technologies; and, a shareholder relationship with Taiwan's TECO Electric and Machinery Company, Ltd., in the Westinghouse Motor Company in Round Rock, Texas. Through a Westinghouse technology transfer agreement, TECO produces large motors and supplies them to the Motor Company, as well as to its own markets.
 Westinghouse has also supplied air traffic control systems, and the reactors for the ROC's most recent nuclear power station, located at Maanshan. The two Westinghouse pressurized water reactors have consistently been ranked as top performing units among Taiwan's three nuclear power stations.
 Westinghouse, based in Pittsburgh, is a diversified, multi-national corporation, and is the world's leading supplier of commercial nuclear power systems.
 /delval/
 -0- 11/9/93R
 /CONTACT: Dana Spiardi of Westinghouse Electric, 412-374-4640, or fax, 412-374-5965/
 (WX)


CO: Westinghouse Electric Corporation ST: Pennsylvania IN: TRN OIL ARO SU: JVN

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Publication:PR Newswire
Date:Nov 9, 1993
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