Westinghouse Completes Acquisition; Accelerates Energy Market Opportunities

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Westinghouse Electric Company LLC, as a Toshiba group company, today announced it has completed its acquisition of Mangiarotti S.p.A., an Italy-based manufacturer of components for the nuclear, oil and gas industries.

This move is expected to accelerate energy market opportunities for Westinghouse throughout the nuclear, oil and gas components supply chain. --Westinghouse President and CEO, Danny Roderick

Westinghouse Electric Company LLC, as a Toshiba group company, today announced it has completed its acquisition of Mangiarotti S.p.A., an Italy-based manufacturer of components for the nuclear, oil and gas industries.

“Today, Mangiarotti becomes part of Westinghouse as well as a group company of Toshiba. This move is expected to accelerate energy market opportunities for Westinghouse throughout the nuclear, oil and gas components supply chain,” said Danny Roderick, Westinghouse president and CEO. “Together we will remain focused on providing the expertise and quality that our global customer base expects.”

Rick Gabbianelli, Westinghouse senior vice president, has been appointed chairman of the board of directors. Mr. Josselin Gillot will serve as chief executive officer and provide day-to-day operations management of the affiliate. Approximately 345 people are employed by Mangiarotti.

Mangiarotti’s Monfalcone and Pannellia sites will continue to manufacture a variety of components, retaining its history of providing the highest quality standards. Mangiarotti manufacturing sites will continue to supply AP1000® reactor equipment and other nuclear components. In addition, the company will expand the oil and gas component manufacturing business to be the premium global supplier.

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.

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Sheila Holt
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