Document b5byeYy01zLBzMeX4bNJKDzDZ

ruMm. 1 EXHIBIT MOODY'S INDUSTRIAL MANUAL un-3rjWESTINGHOUSE ELECTRIC CORPORATION 4627 STimes iTERM DEBT S*/. 1992 .............................................. ggSS8V5.199S ' SSk creditj^rnent. : j&jZ subsidiary debt.. Rating A2 -- 'Z'Amount Outstanding Sdt.joo.000 119.700.000 .100.000.000 184.200.000 Charges Earned 198! 1980 4.98 9.99 Interest Dates I A St O l IMS: S 1 Cal! Price HilOI'A EDI0J.37S Price Range 1981 !980 56 491/,. 66 '/.* 49 73/s- 56l/j 86 - C)5l/,, *AL STOCK ,P Amount Earned per Sh. Divs. per Sh. Cal] Price Range Issue Value Outstanding 1981 1980 1981 1980 Price 1981 1980 ^preferred, B....................... S100 160.923 shs. S2.721.80 S2.S03.68 S3.80 S3.80 101 44!-- 33'/, 44 37 ZTILLqB......................................................................................... 3.123 ^.r6i835..689922..664488ssnhss.. U0.133.1.100 Z_4.*-*<!1 l1-.W80 11..44U0 ............. _343'4'.'---- 23 32'/v- 1I9 ^^^bject to change; also callable for sinking fund, see text. 0]As reported by Co. on average shares. IXBclore extraordinary loss. .^Excluding current portion. .rated in Pennsylvania. Began busi1*2/1 The Westinghouse Electric Co., which _? Incorporated on Jan. 8. 1886. In 1889. the 0| the Chartiers Improvement Co.. 25E* was incorporated in Pennsylvania on 7j2ro 1872. with a capital of S50.000. was &ireh*aed and the name of Chartiers ImCo. was changed to Westinghouse 4 ELjjic & Mfg- Co. and remained so until STm+A to present title on May 10. 1945. of the latter company was exchanged -*ithe stock of The Westinghouse Electric .* Subsequently acquired control of varit Sf^ompaniU. such as Walker Co.. Cleve- Ohio: Bryant Electric Co. and Perkins - Kctric Switch Mfg; Co., in and before 1900: orooerties in 1915 1916 I9l7and .fl&'Saribedin detail in Moody's 1939 In- |Mfl,____ aT.trial Manual. ~^wririT<-rmiitions mergers etc in 11993322--11996600 ^ 1968 Industrial Manu- **iua,ve' see Moody s 1 os ndustnai Manu ><) June 30. 1961 acquired Thermo King price to be paid based upon a cash flow formula. During 1980. Westinghouse Broadcasting Co.. Inc. acquired UHF-TV station WTCK in Charlotte. NC and FM stations KODA-FM in Houston and KOAX-FM in Dallas. Tex. Also in 1980, acquired 22% interest in Siliconix. Inc., increased to 42% during 1981. In Aug.. 1981 Westinghouse Broadcasting Co., a wholly-owned subsidiary of Co., acq. uired Tele.prom.pter Corp. . thru a -pa-ymen.t of $646,0..0...0...,.0...0...0....(..$...3...8. per Teleprompter com. s'h.). Name changed to Group W Cable m 1982. Radio Consent Decree: For details of consent decree in radio anti-trust suit, see Moody's 1940 Industrial Manual. S.E.C. vCuonnsoewntnDueccvrnee.,: aIn, nAuugt.,,. ,1,9w75., ,t.h,ve SeSg?*? C?mnla?th<SSn0W^Shoi!f?n filed a Complaint against Westinghouse in ---------------------------a---.-l-l-eog:-in-g-<otJ--jiat^-w---e--s--u--n---g--r-h--o---v-i--se m----a---d--eor falled to correct misleading announcements coriCem,ng vts major appliance business and ^a^Yntioliuonof Section 1 oTbjo^the Set ter is itself a subsidiary of Pechiney-Ugine Kuhlmann and Creusot-Loire of France, Co.. and Framatome. In Nov.. 1976, the French government controlled atomic energy commission. Electricite de France, a French state-run power company. Framatome. a subsidiary of Creusot-Loire S.A.: and Co. formed a joint venture. Commissariat A L'Energie Atomique (CEA) for the study and development of pressurized water reactors. In Apr. 1981. Co. said it agreed with Sifco Industries, Inc. to form a joint venture to re build worn components of jet engines and combustion turbines. The venture, which will be called Sifco Turbine Component Services, will rebuild blades, vanes and other turbine parts at small plants in the L'.S. and overseas. wU1 include equipment in plants in Minneapolis and Tam- ppaa>. Friloonriadaa aanndo pprroodduuccttiioonn kKnnooww--hnooww iinn tiuurr-bine component repair. Co. win provide cash and technical and engineering services from jfo^^fifpennlyl^nfiSteWS diViSin .^A^fll620icquired ridiotte WINS. ^omSgl^Sfeteunder 'on E&R2J* \975 IriSept.. 1981, Co/s Aerospace Division and s tN*^eAw- "YS-o-rri-k ff1oo9rr6S831lO0a.0O^0Ou0O,'0h000t0d0. for 132.000 shares. promulgated tnereunaer. <_n uec. 23. ivo. PhonAev^ioannidcsj TDeilveigsriaopnhofCIonrtpe.rnaantinoonuanlceTdelea- & Com of^abSveomp?nVwich em wt000.0Wdef^`co^*tra^ 29=o5ts1. IInncc.. TTrraannssaaccttiioonn aallssoo iinnvvoollvveedd HHaagcaann > Is 1966 acquired Coral Ridge Properties, tw for 540,119 common shares: DECO Elec tronics Inc.. Virginia: Seven-Up Bottlers of Fairfield County Inc.. Conn.; Seven-Up Bot- TZC* *y On July 31. 1969 acquired Hub Electric Co. ' lac. for 27.299 common shares (disposed of in' 1931} 3 On Sept. 30, 1969 acquired Seven Up Bot- tSng Co. of Los Angeles. Inc., Seven Up BottSng Co. of San Bernardino, Inc. and 7-Up allegations ottneapove complaint, wnicn en joins Westinghouse. its agents and employes from violations of Section 10(b) and Rule 10b5. SUBSIDIARIES & AFFILIATES Listed below are certain subsidiaries of the ?? subgaiari^ and affili..ed companies (not listed below), if considered aggregate as a single subsidiary, would not constitute a significant subsidiary. Associated Beverage Company. Inc. (Del.) ^ Bryloc. Inc. (Del.) Computer and Instrumentation de Puerto Unit Joint uVennltuurr.e,s.: mIn \109f80 Co.'s Ottermill Ltd. unit in the United Kingdom formed a joint venture with MK Electric Holdings Ltd., also of Great Britain, to manufacture switch gear equipment. Proposed Joint Venture: In April. 1982. the Mitsubishi Electric Corporauon said that it would form a 50-50 joint venture with Co. in June.1982 to produce core paru.of gas circuit breakers for use in power plants. The pro posed company, to be named the MitsubishiWestinghouse S.G.C. Company, will build a factory in Western Japan and start production in April 1983. OBodtitalirnygffoCro4. 9o9f.0B3a1kceormsfimelodn, sInhca.retsh.rough sub- On Dec. 22. 1969 acquired C.W. Blakeslee & r.> Sons, Inc., a heavy construction and general p contracting business, for 145.161 common * sham : - On jan. 20, 1970. Wesdnghouse World In- 4 vestment Corp., subsidiary, acquired 478,466 * Jbares (68%) of capital stock of Ateliers de ,- Constructions Electriques de Charleroi. Belthim. in exchange for $9,569,000 principal ` teouat of 5% subordinated guaranteed con* -.T Jettible debentures, due 1990 (guaranteed by Company and convertible into Company com- '$ Ql x1a9o7a7).stock) (interest reduced " to 47 0or lo 47,y% m On May 11. 1970 acquired Seven Up Bot% C- of Southern Indiana, Inc. and Seven Up Bottling Co. of Indiana, Inc. for 70.352 j* common shares. OnOct. 31. 1970, acquired Ideal School Sup- ?Co. for 67.S30common shares. On Dec. 23. 1970 merged Longines-Witt- - Jauer Watch Co.. Inc. through exchange of 776^22 common shares * 45 f,tbU L^o^Vs^c^^nS^8 ^ S4.H5uaii2,aCqu5rCdSt*nVeCbBV*Zaa' 1973. acquired Controlmatic GmbH ifieder-Eschbach. itel03,093cashr' West Ccmumv for 1U1 C Ip. Mar.. 1975, Co. sold it's domestic major Coral Rjdge Properdes. Inc. (/TD.e.l.)N Jco de Puerto Rico. Inc (Del.) Jnterruptores, Inc. ' .VT v x Longmes-Wtttnauer, _Inc.(N.Y.) Prorelco de Puerto Rico. Inc. (Del.) Thermo-King Corp. (Del.). Thermo-King de Puerto Rico. Ino(Del.) Tvree Industries. Ltd. (Aust.) (69% owned) Western Zxrcomum, Inc. (DeL) Westinghouse Broadcasting Co.. Inc. (Ind.) Cable (N-Xj) _ .. . Westinghouse Canada Ltd. (95% owned) (see alphabetical index) Westinghouse Westinghouse CCorendtriot ls6,oIrnpc.. (Del.) (Del.) (see sepa- rate statements below) Westinghouse Eleccne Export Corp. (Del.) Westinghouse Electnc. S.A. (Switzerland) Westinghouse S.A. (Spain) (75%) ^"^ooae Holdmgs. Ltd. (Ireland) ,,rThen^ KIn? EurP?- Ltd. (Ireland) Westinghouse International Power ,, Systems Company. Inc. (Del.) Westinghouse Intemauonai Technology W^gS^ Nuclear International Inc. wjringhouse Nuclear Espanola, Inc. ,,, (Py . ._ . Westinghouse Learning Corp. (Del. WestinghouieOverseai Sendees Corp. (DeL) Joint Ventures: In Nov. 1972. Co. and Steag BUSINESS & PRODUCTS Principal business activity is the manufac ture and sale of equipment and components for the generation, transmission, distribution, utilization and control of electricity. It is one of the major producers of electrical equipment in the world, although its relative position varies as to particular products. Co. produces much of the electrical and re lated mechanical equipment required by pow er companies, railroads, city transit systems and industrial plants: steam and gas turbines: propulsion and electrical equipment for the United States Navy and the marine industry; electrical and electronic systems, instrumenta tion and other equipment for the aerospace in dustry. Westinghouse develops, designs and furnishes nuclear power plant equipment and fuel fabrication for the generation of electrici ty. The CuiMUIfaa i a* important manufac turer at mffltary products for the United Stases Government and performs certain re- seaicfeieaAdastatQfiaMBt week solely for Unit ed Batten OaMUmment in two Govemment<3Wued Ahkhm it supplies products to the construction industry, manages rental proper ties and engages in conventional construction activities, including community and recreation land development and sales. Co. offers materials to various schools eadnudcadteiovne_al_o_l _ps_se_,rvsiecellss and and administers instruction courses in languages. f appliance business to White Consolidated In- Tr?1?'Inc- rykJn Mar. 6. 1975. increased ownership in 1 lQUtore Power Systems, a former joint ven- *? 100%. FjtfB Jan. 1976. Co. sold its 45% holding in >~**p>*tme. a French nuclear plant builder, *25,000.000. Vi*Mar.. 1977. increased ownership in West- 55!SJ*e Canada Ltd., subsidiary, from 74% 1r j increased to 95% in 1982. V Mar. 1977, acquired EL-CON, a Brazil- company. Apr.. 1977, Co. sold 415.000 shs. of its eq- fBjJV interest in Ateliers de Constructions g*rc>r>ques de Charleroi to an unidentified r?*?1 concern, for undisclosed terms. .late 1977, Westinghouse Canada Ltd. Hi r?la. ita household appliance company to a R formed Canadian company. g** Apr. 1978. acquired a 49% joint venture Ejpbjny from Cyprus Mines Corp. for *t1. vV00. bT* Nov. 1980. acquired an 80% interest in 22.* Theater Network. Inc. The agreement S?v?d* for acquiring the remaining 20% mtnin the next five years with the aggregate AG, of Essen, West Germany, agreed to form a Co., subsequently called Nuklearbrennstoff G.m.b.H., to design and manufacture nuclear fuel assemblies for electric generating stations in Europe. Co. said the new Co. will build a plant near Essen and expects to be able to ship fuel assemblies by 1975. Steag produces electricity in West Germany. In Jan. 1973. Co., Creusot-Loire. and Pechiney-Ugine Kuhlmann, both French metals and manufacturing concerns, formed a joint venture Eurofuel, to make uranium-based fuel for light-water nuclear reactors. Pechiney-Ugine owns 51% of the new concern, Co. owns 35%, and Creusot-Loire 3%. The remaining 11% is held by Framatome, which is 66% owned by Creusot-Loire 30% by Commissariat a T Energie Atomique and 4% by other French companies. In Sept. 1973. Co. set up a new nuclear fuel company based in Paris with Metallurgie et Mecanique Nucleaire of Belgium and Eurofuel of France. The new company is called Franco-Belge de Fabrication de Combustile and relies onMMN's deisel plant in Belgium for production. Co. has 8% of the capital in the venture. MMN 24% and Eurofuel 68%. The lat- management and other disciplines. Westing- house subsidiaries bottle and distribute vanous soft drink brands in important market ar- eas, and manufacture, assemble and sell wrist watches and other timepieces under the Longines-Wlttnauer LeCouitre and Jubilee trade names. Westinghouse Credit Corp. engages in the extension of credit secured by real or personal property, or both, in consumer goods, industrial equipment, real estate transactions and leasing transactions, including leverage leas- mg. Westinghouse Broadcasting Co. owns and operates six television stations located in Baltimore, Boston, Charlotte. Philadelphia. Pittsburgh and San Francisco, and 12 radio stations located in Boston. Chicago, Denver. Fort Wayne. Houston. Los Angeles. New York. Philadelphia and Pittsburgh, Some products of the Co., such as motors and control devices, are used by other manufacturers as components for their products. In general. Westinghouse's products are sold to customers through main and branch offices of sales organizations of the Co. and. in certain cases, through independent distributors and 4628 MOODY'S INDUSTRIAL MANUAL dealers. Further. Westinghouse maintains plants and other facilities for the maintenance and repair of equipment of its own manufac ture and equipment manufactured by others. Westinghouse distributes electrical and oth er products, primarily those manufactured by the Co., outside the United States. This distri bution is accomplished primarily through a wholly owned subsidiary and through compa ny representatives and independent distribu tors. Westinghouse aiso has a number of Other subsidiaries outside the United States, the ma jority of which are engaged in the manufac ture and sale of electrical and consumer prod ucts. The largest single customer of the Co. is the United States Government, whose purchases for defense and other purposes, directly and through subcontractors, accounted for about 15% of the total consolidated sales in 1981. In general, these sales to the United States Gov ernment and fees generated through Govern ment-owned Westinghouse-operated facilities are subject to termination and renegotiation procedures prescribed by statute. In eariy 197S. the then existing five operat ing `'company-like" units of Westinghouse were reorganized into three such units: Indus try Products. Power Systems and Public Sys tems. The Consumer Products Company was eliminated and its home equipment and lamp divisions were transferred to the Public Sys tems and Industry Products Companies, re spectively. The learning and leisure time ac tivities of the Westinghouse Broadcasting, Learning and Leisure Time Company were transferred to the Public Systems Company. The Westinghouse Broadcasting Co. contin ues as a separate subsidiary. The following are the more important prod ucts and services of the "company-like" units: INDUSTRY PRODUCTS CO. Industry Products Company supplies a va riety of products and services to a broad range of customers in the capital goods, indus trial. construction and consumer markets. These products range from standard electric motors to sophisticated control systems for such industries as steel, petrochemical, min ing. textile, pulp and paper. Electronics St Control Group manufactures and markets power semiconductors, electronic tubes, solid state controllers and electro-me chanical logic sensing devices and major con trollers. It also manufactures process equip ment and systems for automating production machinery, including combustion control sys tems. process computers and computer pack ages, induction heating, welding equipment, energy management systems, electrified drive systems and inverters and converters. Industry Equipment Owap sMitmfsitum and markets motors ranging from fractional horsepower sizes applied to consumer sad commercial products to therkwgset-slans aasd in steel mills and mining excavation equip ment. It also supplies industrial and construc tion markets with various electrical distribu tion and control products, including molded case circuit breakers, bus duct, panelboards, switchboards, high-voltage bus and power centers, transfer switches, residential load- centers and specialty transformers. The products of the Components & Materi als Group are indoor and outdoor lighting fix tures. numerous types of consumer, industrial and commercial lamps, commercial lighting, over-the-road refrigeration equipment, micar- ta laminates, magnet wire ana industrial plas tics. ladwtry Products aiso operates a nation wide distribution business through_Westing- house Electric Supply Company. '' ness unit " " '` pri ` .......... services unit to provide project management, installation, start-up. maintenance, service and repair of electrical and mechanical appa ratus. POWER SYSTEMS CO. Power Systems Company designs, devel ops. manufactures, sells and installs nuclear energy systems, other electrical power gener ating apparatus and transmission and distri bution equipment for the electric utility indus try. the construction industry and large indus trial customers who generate or distribute their own electricity. Power Systems aiso fab ricates and sells nuclear fuel and conducts a service business which basically involves the maintenance and upgrading of existing equip ment and systems, the sale of spare parts and the installation of power generation equip ment. In addition. Power Systems is involved in the development of emerging energy tech nofogies, (much of which is supported oy cus tomer funding), mining and co-product ex traction of uranium and production of zirconi um metal at a new plant which began opera tions in 1980. Nuclear Energy Systems Group is responsi ble for commercial nuclear energy activities and emerging energy technologies. It designs, manufactures and markets commercial nucle ar pressurized water reactor systems and components (including steam generators, pressurizers. large pumps, tanks and valves. and control rod drives) and performs contract maintenance and service on nuclear plants for utilities. It also designs, fabricates and sells nuclear fuel assemblies. Products also manu factured by this Group include alloy tubing for nuclear plant steam generators and zirco nium tubing for nuclear fuel rods. Power Generation Group designs, manufac tures and sells equipment used to generate electric power and is involved in the develop ment of synthetic fuels. This Group manufac tures steam turbine-generator units rated more than 60 MW and combustion turbinegenerators. It furnishes renewal and spare parts and, in addition to factory service pro vides the field services required to maintain and repair power generation prod ucts and systems. The Group aiso manufac tures moisture separator reheaters and reac tor coolant pump motors for nuclear power plants and provides technology for water de salting evaporators. Transmission & Distribution Group de signs, manufactures and sells transformers, meters and switchgear apparatus, protective and control equipment for electrical transmis sion and distribution systems. Its transformer products include network and power center units and small substations, medium, instru ment. dry-type and certain special transform ers, large transformers above 120 Mva. pole- mounted. pad-mounted and underground units. The Group also makes metal-clad and metal enclosed switching and control equip ment for generating plants, substations and in-plant distribution systems, network protec tors. generator voltage regulators and other specialty devices, large and subtransmission breakers, gas-insulated substations and bus duct for use in transmission substations, light ning arresters, capacitors, reclosers, fuse cut outs and vacuum circuit breakers for distribu tion circuit protection. It also produces pro tective relays, switchboard meters and digital computer systems for power system operation and control. This Group also manufactures meters used for customer billing, load survey equipment and automatic metering equip ment. PUBLIC SYSTEMS CO. Public Systems Company supplies a wide variety of products and services ranging from office furniture systems to sophisticated de fense systems. Defense Group provides research, develop ment. production and support services for government agencies such as the U.S. Depart ment of Defense, the National Aeronautics and Space Administration, the Federal Avia tion Administration, as well as foreign govern ments and other prime contractors that serv ice these agencies. The Group also manufac tures selected products for commercial air craft and instrumentation and control of nu clear reactors for both military ship propul sion and commercial power generation. The principal businesses of the Defense Group are airborne early warning and control equip ment, ground electronic systems, space and information systems, integrated logistics sup port (both domestic and international), mis sile launching and handling, and marine heavy equipment. ' Construction Group manufactures and sells numerous products, systems and services to the construction market. Products and sys tems include elevators, escalators, automated people moving systems, train control and pro pulsion systems for mass transit vehicles, power and industrial fans, and office furniture Kstems and components. In addition, this oup provides installation and maintenance services for many of these products. Learning St Leisure Group engages in soft ~ sk bottling operations in California. Indi- l. Puerto Rico. Arizona and Nevada. Also Juded within this Group are the Longines- Wittnauer Watch Company, a major manu facturer and distributor of watches and clocks, and Westinghouse Learning Corporation, which provides language learning systems and services worldwide, data processing prod ucts and services for use by educational, in dustrial and government customers and man ufactures and sells elementary grade level supplementary teaching materials. Community Development Group is engaged in land and community development and re lated activitiesm ^ suburbatesMMpBSb*. Fa. employs approxi mately engineers and support persoruMPSpM0BB nroad program of ba sic and applied' research, advanced develop ment. and creative engineering in areas of present and future importance to the Corpo ration. Some recent results of these efforts in clude development of nuclear fuels and clad ding materials for use in fast breeder reactors, significant innovations in solid state power conditioning, electrochemical energy storage, high power laser technology, coal gasification, solar energy conversion, nuclear waste isola tion plants and super-conducting machinery. Investigations are conducted in close coopera tion with engineering and development labo ratories located at the company's manufactur ing plants as well as satellite research opera tions at West Lafayette. Ind. and Waltz Mill. Pa. Results By Business Segments, years ended Oec. 31: Sites and oper. rev.: Power Svst........................ Industrv Prod................. Public Svjt................ Broadcasting & cable -- Other................................. Less: Interseg. saies......... (i.VJil) 5.205.3 1.479.1 2.S27.4 411.9 120.5 (196.7) 1%) 34.2 17.1 27.0 4.0 U (4.2) ------- 1980--. (8 Milt 2.998.2 <%) 1$J 2.245.2 266.1 115.4 (118.4) 17.9 26.1 il 1.4 (4.0) Total ........................... Operating profit: PowerSvst ..................... Industry Prod.................. Public Si's:........................ Broadcasting................... Other................................. Adjust and elimin................ 9.167.1 256.1 229.1 180.7 78.1 (2.0) (11.4) 100.0 15.1 11.4 24.8 10.7 (0.2) 04) 8.5142 272.6 2184 64.4 (2.2) (16.0) 100.0 414 U.S 17.4 9.9 (01) <U) Segment oper. prom .. 728.6 100.0 6512 1004 PRINCIPAL PLANTS AND PROPERTIES . Company operates approx. 128 manufac turing plants throughout U.S. and Puerto Rico. Manufacturing operations are aiso con ducted in 20 foreign countries with larger facil ities in Canada. Spain. Australia. Brazil, West Germany and Ireland. SUBSIDIARY CREDIT COMPANY Westinghouse Credit Corp.--Pittsburgh. Pa. Engages in extension of credit in transac tions including leverage leasing. BROADCASTING SUBSIDIARIES Westinghouse Broadcasting Co, (N.Y.)--Owns and operates 12 radio stations and 6 television stations. AM Radio stations are: RDKA, Pittsburgh. Pa, KYW, Philadelphia: WBZ, Boston (operated with WBZA. Springfield)WOWO. Fort Wayne. Ind, WINS? New York, WIND. Chicago and KFWB. Los Ange les. FM Radio stations are: WPNT, Pitts burgh: WBZ. Boston: KODA. Houston: KOAX, Dallas and KJQY. San Diego. Televi sion stations are WBZ-TV. Boston: KDKATV, Pittsburgh: WTZ. Baltimore: KP1X. in San Francisco: KYw-TV in Philadelphia and WTCK in Charlotte. Projected 1982 Capital ExpendKurem were ap prox. 8800.000,000 against 8600,000.000 In 1981. . MANAGEMENT Officer* R.E. Kirby. Chmn. and Chief Exec. Off. Douglas D. Danforth, Vice Chmn. and Chief Oper. Off. INDUSTRY PRODUCTS CO. Edwin V. Clarke. Jr, President Douglas D. Stark. Exec. Vice Pres.--Compo nents and Matls. Robert P. Wagner, Exec. Vice Pres.-- Indus try Equip. William O. Carlsen, Vice Pres.--Distrib. Prod ucts Div. Gary M. Clark. Vice-Pres.--Industry Prod ucts Mktg. Philips F. Dietz. Vice-Pres.--Lamp Div. Paul E. Lego, Exec. Vice Pres.--Electronics B Control Glen E. Nietfeld. Pres.--Westinghouse Elec tric Supply Co. James C. Sheehan. Pres.--Thermo King Corp. Jack J. Sherman. Vice Pres. Industry Prod ucts Mkg. POWER SYSTEMS CO. Gordon C. Hurlbert, President . Albert L. Bethel. Exec. Vice Pres.--Transmis sion'and Distrib. E.J. Cattabiani. Exec. Vice Pres.--Power Gen eration '_ Theodore Stern, Exec. Vice Pres.--Nuclear Energy Sys. Joseph W. Baker, Vice-Pres.--Switchgear Divs. ___ Nicholas A. Beldecos. Vice Pres--Power Gen eration Oper. _ Bruce W. Morrison, Vice Pres.--Power Sy* Mktg. _ James S. Moore, Vice Pres.--Water Reactor Div. ' Hairy Weingarten, Vice Pres.--Transformer Div. PUBLIC SYSTEMS CO . Thomas J. Murrin, President William A. Coates. Exec. Vice Pres---Go*.. struction _ , Roy V. Gavert. Jr, Exec. Vice Pres,--Learn ing and Leisure . -a Barton S. Brodkin. Pres.--Bev. Group . H. Joe Frazer. Pres.--Community DeyeL -i Donald W. Neukranz. Pres.--WestinghOUS* EtevatorCo. _. Harry B. Smith. Exec. Vice Pres.--Defense ^ INTERNATIONAL M John C. Marous. Jr, President Thomas N. Humphreville, Pres. __ Latin. America ._ Clovis F. Obermesser. Pres.--Asia-Pacm Chester A. Sadlow, Pres___Europe. Alnc* Middle East Frank H. Tyaack. Pres___Westinghouse ada. Inc. WESTINGHOUSE BROADCASTING Daniel L. Ritchie. Chmn. St Pres.