ABB LIMITED
21 September 1999
ABB wins nuclear fuel, service and retrofit contracts valued at
more than US$ 100 million
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Zurich, Switzerland, September 21, 1999 - ABB, the globalized technology and
engineering company, has been awarded nuclear service, retrofit and fuel
contracts with a total value of more than US$ 100 million from utilities in the
U.S. and Germany.
The U.S. orders, with a combined value of more than US$ 85 million, were placed
by the Tennessee Valley Authority (TVA) to service and retrofit three of their
nuclear power plants. One of the contracts covers the supply of steam generator
inspection, repair and engineering services for three units at TVA's Sequoyah 1
and 2 and Watts Bar plants through 2003. The Sequoyah and Watts Bar plants are
located in Soddy-Daisy and Spring City, Tennessee, respectively,and began
operation in the early and mid-1980s.
The second U.S. order is to replace four steam generators at the Sequoyah 1
plant. It includes project management, design and manufactring of the
replacement steam generators. The generators will be fabricated under license
by Korea Heavy Industry and Construction Co. Ltd (HANJUNG). Delivery is
scheduled for October, 2002.
In Germany, ABB has entered into a long-term agreement with Bayernwerk AG,
Isar-Amperwerke AG, and Bayemwerk Kernenergie GmbH to deliver three uranium fuel
reloads to the Isar 1 nuclear power plant, located about 60 kilometers (37
miles) northeast of Munich. The deliveries are scheduled to take place between
2001 and 2007 and have a value of about US$ 20 million.
ABB's nuclear activities include new nuclear power plants, systems, components,
field services, retrofits, fuel, fuel services, waste management and
decommissioning. Along with the service- and financing-based distributed power
business, and the renewable energy activities, ABB's nuclear energy business was
not included in the recently-formed power generation joint venture ABB ALSTOM
POWER.
ABB, serves customers in power transmission and
distribution; automation; oil, gas, and petrochemicals; industrial products and
contracting; and in financial services. Power generation customers are served
by the joint venture ABB ALSTOME POWER. The ABB Group employs about 175,000
people in more than 100 countries.
ABB Corporate Communications, Zurich ABB Investor Relations, Zurich
John Fox Manfred Ebling
Tel: +41 1 317 7371 Tel. +41 1 317 7266
Fax: +41 1 317 7958 Fax +41 1 311 9817
john.fox@ch.abb.corn Investor.relations@ch.abb.corn
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