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Toshiba-GE joint venture in Mexico starts operation

8 June, 1999

Toshiba Corporation
General Electric Company

Tokyo--Toshiba Corporation and General Electric Company today announced the start of manufacturing at GE Toshiba Turbine Components de Mexico S.R.L. de C.V. The new joint venture is one of two airfoil manufacturing operations set up by Toshiba and GE in June 1998. Its June 8, Mexican time, startup follows the earlier start of operations of Toshiba GE Turbine Components Co., Ltd., which began operation in April 1999 in Japan.

GE and Toshiba established the two joint ventures in June 1998, in order to bring together and reinforce their manufacturing capabilities in airfoils, key components of steam turbines. Between them, the two companies can manufacture a full range of airfoils. Toshiba GE Turbine Components Co., Ltd. (TGTC) is sited within Toshiba's Keihin Works in Kawasaki, Japan, and produces long airfoils. GE Toshiba Turbine Components de Mexico S.R.L. de C.V (GTTC), in Monterrey, produces medium and short airfoils.

Both companies will reach full manufacturing capacity in February 2000 and their combined annual production of airfoils will be sufficient to generate the equivalent of eight to ten gigawatts of electricity a year. Airfoils are critical to the efficiency of steam turbine operation. Long airfoils are installed in low-pressure turbines while medium and short airfoils are incorporated in high and medium pressure turbines.

The opening ceremony for GE Toshiba Turbine Components de Mexico S.R.L. de C.V will be held in Monterrey today. It will be attended by Mr. Harvey Williams, the company's CEO; Mr. Robert L. Nardelli, president and CEO, GE Power Systems; Mr. Toshiki Miyamoto, President & CEO, Toshiba's Power Systems & Service Company; and other representatives of both companies.

Outline of New Joint Ventures

GE Toshiba Turbine Components de Mexico S.R.L. de C.V (GTTC)
CEOHarvey Williams
EstablishedJune 1998
HoldingGE Mexico 66%; Toshiba 34%
LocationMonterrey, Nuevo Lion, Mexico
Start of operationJune 1999

Toshiba GE Turbine Components Co., Ltd. (TGTC)
CEOKazuo Watanabe
EstablishedJune 1998
HoldingGE Mexico 34%; Toshiba 66%
LocationTsurumi district, Yokohama, Japan
Start of operationApril 1999

Information in the press releases, including product prices and specifications, content of services and contact information, is current on the date of the press announcement,but is subject to change without prior notice.

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