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Toshiba Signs Memorandum of Advancement of Mutual Cooperation in the Nuclear Industry with Kazakhstan's Kazatomprom

20 June, 2008


Tokyo--Toshiba Corporation today signed a memorandum of understanding on advancing mutual cooperation in the nuclear industry with Kazatomprom, a state-owned corporation of the Republic of Kazakhstan.

In April 2007, Japan and Kazakhstan signed an agreement on the development and enhancement of a strategic partnership in the field of nuclear energy, while Toshiba and Kazatomprom agreed to study collaboration in specific projects towards establishing a complementary partnership. The two companies further deepened cooperation through Toshiba's participation in the Kharassan uranium mine development project, and by Kazatomprom becoming an indirect minority shareholder in Westinghouse Electric Company LLC, in which Toshiba hold majority ownership.

Today's memorandum reconfirms Toshiba and Kazatomprom's intent to promote further collaboration, and their agreement to study opportunities for possible collaboration, based on the basic framework for cooperation, in rare metals related to nuclear energy, such as beryllium and tantalum.

Toshiba and Kazatomprom will also study the possibility of expanding collaboration, to include manufacture of components for nuclear power stations and construction of supply chain systems.

The two companies will continue to study possible means to build up a mutually beneficial partnership in the nuclear power industry.

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