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April 11, 2008
AREVA and MHI enlarge their Cooperation to the Nuclear Fuel Business
Joint business organization contemplated
Anne Lauvergeon, CEO of AREVA, met today with Kazuo Tsukuda and Hideaki Omiya, respectively Chairman and President of MHI, in Tokyo. Anne Lauvergeon and Kazuo Tsukuda signed a Memorandum Of Understanding to contemplate the establishment of a joint business organization for supply of PWR, BWR, MOX and Gas Reactor fuels. The implementation of this formation is expected by the end of this year.
The scope of this cooperation agreement will focus on the Japanese market. According to the MOU, both parties will discuss MHI's potential investment in AREVA's US nuclear fuel fabrication facility.
They noted also that joint development work of their new reactor, ATMEA 1, has made good progress targeting the completion of its basic design by the end of 2009, that design review by third parties is planned and that customer visits have already been started by ATMEA.
AREVA and MHI have also decided to work jointly on the South African tender for which AREVA proposed two EPRs, extending the manufacturing cooperation initiated for the Finnish Olkiluoto 3 EPR.
MHI President Hideaki Omiya stated, “MHI supplies nuclear fuel for 23 PWR nuclear power plants constructed by the company. Introducing AREVA's BWR nuclear fuel technology, the joint business formation will be supplying fuels for both domestic BWR nuclear power plants and the PWR plants. By putting together our forces, MHI and AREVA are expecting to deliver high quality fuel to their customers, and to contribute to make the nuclear renaissance sustainable.”
More about
Mitsubishi Heavy Industries, Inc. (MHI), headquartered in Tokyo, Japan, is one of the world's leading heavy machinery manufacturers, with consolidated sales of 3,068 billion yen in fiscal 2006 (year ended March 31, 2007). MHI's diverse lineup of products and services encompasses shipbuilding, power plants, chemical plants, environmental equipment, steel structures, industrial and general machinery, aircraft, space rocketry and air-conditioning systems.
For more information, please visit the MHI website: www.mhi.co.jp
Contacts
AREVA press office:
Fleur Floquet-Daubigeon / Julien Duperray / Ludovic Boursin
Tel: +33 1 34 96 12 15 - Fax: +33 1 34 96 16 54
press@areva.com
AREVA Investors Relations:
Isabelle Coupey: Tel : +33 1 34 96 14 85
isabelle.coupey@areva.com
Manuel Lachaux: Tel: +33 1 34 96 11 53
manuel.lachaux@areva.com
Mitsubishi Heavy Industries:
Hideo Ikuno
Tél : +813 6716 5277 - Fax : +813 6716 5929
E-mail : h.ikuno@daiya-pr.co.jp
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