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GE Hitachi Nuclear Energy and Fluor Hold Local Suppliers Conference to Capitalize on Finnish Nuclear Expertise

  • Conference to Identify Potential Supply Chain Partners for OL4 Nuclear Project
  • GEH Will Host Interns at its Global Headquarters this Summer

HELSINKI, FINLAND—May 24, 2012—GE Hitachi Nuclear Energy (GEH) and Fluor Corporation today met with numerous Finnish businesses to explore potential opportunities to collaborate on the upcoming Olkiluoto nuclear power station (OL4) project on Finland’s west coast.

GEH and Fluor are seeking to establish a Finnish supply chain for OL4 as well as for other potential projects around the world. FinNuclear, an association comprised of Finnish companies with nuclear expertise, partnered with GEH and Fluor to put on today’s event. On May 25, FinNuclear will take GEH and Fluor on a tour of the region surrounding the OL4 site. The group will meet with officials from Rauma, Pori and Eurajoki to learn about each town, the services they offer and the potential collaboration that can be expected in connection with the new plant project.

GEH is further investing in the future of the Finnish global supply chain by announcing today that it will host five Finnish interns from the country’s top universities this summer at its global headquarters in the United States.

GEH’s Economic Simplified Boiling Water Reactor (ESBWR), the world’s safest available reactor design based on industry standards, has been selected to enter the bidding process for the OL4 project and GEH has been working with Teollisuuden Voima Oyj (TVO) on an ESBWR licensing feasibility study since February of this year. GEH partnered with Fluor to jointly prepare the upcoming bid and has continued to expand its local business presence in Finland. Earlier this year, GEH signed a memorandum of understanding with Space Systems Finland, Ltd., which specializes in the validation and verification of safety critical software for various industrial sectors, including the aerospace and utility industries.

“FinNuclear has begun to develop the preparedness of the Finnish nuclear supply chain not only for nuclear projects in Finland but to potentially springboard into global nuclear markets, where collaboration could continue with major players like GEH and Fluor,” said Leena Jylhä, director of FinNuclear Association. “Supplier conferences initiate the dialogue between the NPP vendors and Finnish companies.”

“With four nuclear plants currently in operation and another one under construction, Finland is well positioned to capitalize on its experience building these massive projects both at home and globally,” said David Sledzik, vice president for international nuclear plant projects at GEH. “Today’s suppliers conference solidified GEH’s belief that Finnish nuclear companies have a lot to offer and we look forward to mobilizing this supply chain in order to prepare an extremely competitive, attractive and comprehensive proposal to support TVO’s technology, schedule and budget requirements.”

“One of the key features of a successful project is optimizing our suppliers and subcontractors," said David Boone, director of Fluor's nuclear operations business. "Fluor is pleased with the level of interest in the GEH/Fluor Supplier Day, and we look forward to leveraging the talent, experience and products from the Finnish supply chain for our project and our team."

Earlier this year, CEO of GE Energy John Krenicki unveiled an ESBWR model at the U.S. Embassy in Helsinki, highlighting the role that GEH's nuclear reactor technology can play in helping Finland expand the production of lower-carbon, alternative energy supplies.

Finland has four nuclear reactors that supplied more than 28 percent of the country's electricity in 2010, according to the World Nuclear Association. In July 2010, Finland's parliament ratified "Decisions in Principle" for the construction of two additional reactors, including TVO's “Olkiluoto-4” project.

About FinNuclear

Established by industrial organizations, FinNuclear Association´s main purpose is to support the development and enlargement of the Finnish nuclear supply chain. This is being done by development projects for increased competitiveness, training and networking activities. The importance of FinNuclear activity regarding the future NPP projects in Finland was referred to in the summer 2010 in the memorandum of the Commerce Committee of the Parliament of Finland, before ratifying the Decisions in Principle for construction of new nuclear reactors.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Founded in 1912, John Simon Fluor Sr. started the company with a modest investment of $100. Since those humble beginnings, the company has grown into one of the largest engineering & construction companies in the world. Fluor is celebrating its 100th anniversary during 2012.

Today, through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenue of $23.4 billion in 2011. For more information, visit www.fluor100.com and www.fluor.com..

About GE Hitachi Nuclear Energy

Based in Wilmington, N.C., GE Hitachi Nuclear Energy (GEH) is a world-leading provider of advanced reactors and nuclear services. Established in June 2007, GEH is a global nuclear alliance created by GE and Hitachi to serve the global nuclear industry. The nuclear alliance executes a single, strategic vision to create a broader portfolio of solutions, expanding its capabilities for new reactor and service opportunities. The alliance offers customers around the world the technological leadership required to effectively enhance reactor performance, power output and safety.

For more information, contact:

Michael Tetuan
GE Hitachi Nuclear Energy
+1 910 819 7055
michael.tetuan@ge.com

Tom Murnane or Howard Masto
Masto Public Relations
+1 518 786 6488
tom.murnane@mastopr.com
howard.masto@ge.com