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CEZUS brings equity participation to Zirco Products to better serve the growing worldwide nuclear demand

Press release

NUCLEAR POWER / FRONT-END

September 10, 2009

Zirco Products, Japan’s largest manufacturer of Zirconium cladding tubes for nuclear power plants, and CEZUS (Compagnie Européenne du Zirconium, France), a subsidiary of AREVA, have agreed on the latter’s 33.30 % equity participation in Zirco Product’s capital.

Zirco Products is a jointly owned company by Sumitomo Metal Industries and Kobe Special Tube and aims at reinforcing a steady supply of Zirconium cladding tubes to build a strong business base in Japan, and accelerate its growth strategy while eyeing global development for the future.

CEZUS, the world’s largest producer of Zirconium components for nuclear fuel is part of AREVA’s nuclear Fuel Division providing fuel products and related services for PWR and BWR clients worldwide. As the demand for nuclear power generation is strongly increasing worldwide, the equity participation by CEZUS in this agreement will ensure long term supply of mother tubes to Zirco Products and thereby strengthen its position on its domestic market in Japan.

AREVA, through this partnership, will benefit from expanded cladding tubes production capacities in the frame of the nuclear renaissance. Zirco Products and AREVA European tubing facilities have also identified industrial synergies that will enable optimization of their global operations.