Printer Friendly

WESTINGHOUSE DECISIVELY WINS MAJOR DISPUTE OVER BRAZILIAN STEAM GENERATOR CLAIMS

 WESTINGHOUSE DECISIVELY WINS MAJOR DISPUTE
 OVER BRAZILIAN STEAM GENERATOR CLAIMS
 PITTSBURGH, Oct. 8 /PRNewswire/ -- Westinghouse Electric Corporation (NYSE: WX) said today it has decisively won its long-standing dispute with the Brazilian electric utility, Furnas Centrais Eletricas, over steam generators in operation at the Angra Nuclear Power Plant.
 In a 265-page ruling, an International Chamber of Commerce arbitration panel awarded Furnas no damages on its $115 million steam generator claim.
 "This is an important decision for us, because the arbitrators dismissed all claims of fraud, negligence and RICO, which were the essence of Furnas' case," said John B. Yasinsky, president of the Westinghouse Power Systems group.
 The tribunal stated: "In the enormous mass of documents submitted to it, the Tribunal has found no evidence of relevant intentional concealment by Westinghouse.... The contract was not induced by fraud. There was no fraud in the performance of the Contract. The Tribunal therefore concludes that there was no dolo (fraud) by Westinghouse."
 The panel also denied Furnas' warranty claim on the Angra steam generators in its entirety.
 "We've worked with Furnas in good faith from the beginning and honored our contracts. The arbitration panel recognized this in their ruling," said Nathaniel D. Woodson, vice president of the Westinghouse Energy Systems business unit.
 The dispute principally centered on the two steam generators at the Angra Plant, which began commercial operation in 1984. The plant is located about 80 miles from Rio de Janeiro.
 Steam generators, used in nuclear plants, are complex heat exchangers that use pressurized hot water flowing through thousands of metal tubes to transfer heat to cooler water surrounding the tubes. This heat transfer process generates steam for turbines that provide power to separate electrical generators which produce electricity. Electrical generators are employed in virtually every power plant regardless of the type of fuel it uses. As part of its ruling, the tribunal also resolved a warranty dispute over the plant's electrical generator, awarding Furnas only $2.5 million of its $34 million claim.
 "It is certainly not unusual for commercial disputes to emerge over the course of a complex project such as Angra," Woodson said. "The arbitrators' decision demonstrates that commercial disputes can be more productively worked out through a resolution process than through a lengthy litigation process."
 Westinghouse is the world's foremost supplier of nuclear power plants, equipment, fuel and services. Nearly half of the nuclear plants in operation worldwide are based on Westinghouse technology.
 /delval/
 -0- 10/8/92
 /CONTACT: Mimi Limbach of Westinghouse Electric, 412-642-3341, or facsimile, 412-642-4857/
 (WX) CO: Westinghouse Electric Corporation ST: Pennsylvania IN: OIL SU:


DM -- PG007 -- 0336 10/08/92 09:47 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 8, 1992
Words:438
Previous Article:VALUE CITY DEPARTMENT STORES ANNOUNCES SEPTEMBER SALES RESULTS
Next Article:SALES INCREASE 10.8 PERCENT IN SEPTEMBER FOR THE MAY DEPARTMENT STORES COMPANY
Topics:


Related Articles
WESTINGHOUSE TO SUPPLY STEAM GENERATORS TO SOUTHERN NUCLEAR
WESTINGHOUSE, CAROLINA POWER & LIGHT SETTLE NUCLEAR PLANT DISPUTE
WESTINGHOUSE COUNTERS ANTI-BUSINESS GROUPS
RETIRED ENGINEER: 'WESTINGHOUSE ASSURED 40 YEAR LIFETIME FOR BEAVER VALLEY NUCLEAR STEAM GENERATORS'
DUQUESNE: 'WESTINGHOUSE NEVER TOLD US ABOUT TUBE CRACKING AND CORROSION'
WESTINGHOUSE VINDICATED: JURY DISMISSES CHARGES IN STEAM GENERATOR DISPUTE
HARBIN TURBINE COMPANY AND WESTINGHOUSE TO CO-MANUFACTURE STEAM TURBINES FOR NUCLEAR POWER PLANT IN CHINA
WESTINGHOUSE, NORTHERN STATES SETTLE STEAM GENERATOR DISPUTE
WESTINGHOUSE RESOLVES ANOTHER STEAM GENERATOR DISPUTE
Exelon Awards Steam Generator Services Contract to Westinghouse; Agreement Valued at $50 Million Over 6 Years; Covers Activities at Byron and...

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters