(Ukrainian - USA Joint Venture) to its Customers' orders during 5 years of the JV existence is $3-4 million.
The Westron's equipment was delivered to all the Ukrainian nuclear power plants.
As it was pointed out by Michael Chernyshov, Westron JV Director General, at the press conference on account of the 5th anniversary of Westron recently held in Kharkov, " the JV is a unique example of strategic in its nature, long-term and fruitful cooperation in the field of high technologies".
According to Michael Chernyshov the principal problem being faced by Westron is incapability of Ukrainian NPPs to pay Westron in cash for the equipment delivered. The form of payments done by the NPPs is electrical energy assigned for selling by Westron.
Another the press conference speaker Yackov Aizenberg, the Hartron Co Board of Directors Chairman, added that the contribution done by the West to safety of the Ukrainian NPPs is bigger than that done by Ukraine itself. Also it was pointed out by Michael Chernyshov that at the moment Westron manages to survive exclusively due to the money earned by execution of foreign Orders on delivery equipment to the Ukrainian NPPs (the deliveries are done within the frames of rendering foreign aid to Ukraine). Also, Michael Chernyshov explained that a certain amount of design activities is performed by Westron to Orders from Westinghouse. In particular Westron is engaged in the activities for the purpose of Kursk NPP (Russia), Leningrad NPP (Russia), Temelin NPP (Chekhia), Ignalina NPP (Lithuania).
The Westron JV was established in 1994 by the Hartron Co (Ukraine) and Westinghouse Corporation (USA) (correspondingly 40% share and 60% share). At that time the Westron was the very first JV in Ukraine the foundation of which was financially supported by the Nann-Lugar Funds. $US 5 millions were allotted by the Fund for realization of the Project. The investments done to the JV by Westinghouse are estimated as $US 3 millions. Westron is a big engineering company that applies the Westinghouse technologies transferred to it under License Agreement. The western up-to-date technologies are made use of for reconstruction of the control systems existing in the Ukrainian nuclear power plants. The principal field of activities for Westron is design, manufacture, implementation of control systems/monitoring systems intended for nuclear power plants and steam electric plants, also that purposed for other branches of industry.