News Releases Corporate Profiles

January 6, 2000
GE, Hitachi and Toshiba to Form Global Nuclear Fuel
General Electric Company (GE) of America, Hitachi, Ltd. and Toshiba Corp. jointly 
established Global Nuclear Fuel (GNF), an international nuclear-fuel joint venture, on 
January 1, 2000.  The three companies have integrated their nuclear fuel marketing, 
design, development and manufacturing functions into the new company, which 
established business bases in both Japan and the United States.

GNF has also relaunched Japan Nuclear Fuel (JNF), the nuclear fuel manufacturing 
joint venture of the three partners, as its Japanese base.  Its U.S. base is Global Nuclear 
Fuel-Americas (GNF-A), which is an incorporated entity of GE's fuel plant in that 
country.  GE, Hitachi and Toshiba have transferred their nuclear fuel marketing, 
design and development operations to these two GNF subsidiaries.  Through the two 
subsidiaries, GNF will market, design, develop and manufacture light water reactor fuel.  
The new company will combine the three parents' strengths and achieve improved 
efficiency to provide customers around the world with highly cost-effective and reliable 
light-water reactor fuel and related services.

The new JNF took over the light water reactor fuel marketing, design and development 
operations which GE International Inc. (GEII), Hitachi and Toshiba had been engaged 
in separately, and add these to its former fuel manufacturing function, thereby 
becoming a comprehensive nuclear fuel company offering competitive products and 
services in the Japanese market.

GNF-A, meanwhile, took over GE's light-water reactor fuel business (including 
marketing, design, development and sales, and the Wilmington, NC manufacturing 
plant).  Joint Conversion Company (JCC), a joint venture between GE and the current 
JNF for fuel reconversion to produce uranium for power generation purposes, was also 
integrated into GNF-A, to create a comprehensive nuclear fuel company involved with 
everything from uranium fuel reconversion to fuel fabrication and marketing.  GNF-A 
primarily serves the U.S., European, Taiwanese and Mexican markets.

GNF leverages the three partners' extensive experience and combined strengths in 
providing support and control for the two operating subsidiaries' businesses to ensure 
highly competitive products and services to meet diverse customer needs.

Since they signed a comprehensive, tripartite licensing agreement for BWR plants in 
1967, GE, Hitachi and Toshiba have been working together in the building and 
maintenance of BWR plants in Japan and overseas.  In the area of nuclear fuel, the 
three companies established JNF in 1967, through which they have since delivered 
some 60,000 nuclear fuel units to Japanese power companies and other customers, 
winning a high reputation for superior reliability.

Based on the three partners' achievements in the past, GNF will work to provide highly 
competitive nuclear fuel, services and technology and ensure even higher degrees of 
customer satisfaction.

Outlines of the New Companies

Global Nuclear Fuel (GNF)
Worldwide Sales:	Approx. 50 billion yen
Scope of Business:	Management and control of JNF and GNF-A
CEO:	  		John D. Fuller  (formerly of GE Nuclear business)
Ownership Ratio (voting share):	
			GE 51%, Toshiba 24.5%, Hitachi 24.5%
Headquarters:		San Jose, California

Japan Nuclear Fuel Co., Ltd. (JNF)
Scope of Business:  	Development, design and manufacturing of BWR fuel; related 
			engineering and sales
President and COO:  	Hiroshi Machiba (formerly of Toshiba Nuclear Energy Systems)
No. of Employees:  	Approximately 500  
Headquarters and 
    Kurihama Plant: 	2-3-1 Uchikawa, Yokosuka-shi, Kanagawa
Other Facilities:  	Kami-Ohoka Office, Tokyo Office

Global Nuclear Fuel - Americas, LLC
Scope of Business: 	Development, design and manufacturing of BWR fuel; related 
			engineering and sales; development, design, manufacturing 
			concerning uranium fuel reconversion; related engineering and 
President and COO: 	Craig P. Kipp (formerly of GE Nuclear business).
No. of Employees:  	Approximately 900
Headquarters and 
   Plant:  		Wilmington, North Carolina

top of this page

WRITTEN BY Secretary's Office
(C) Hitachi, Ltd. 2000. All rights reserved.