ArcelorMittal and AREVA sign an industrial partnership agreement
Friday, Jul 04, 2008
Luxembourg, 3 July 2008 - Today, in the village of Le Creusot and before Nicolas Sarkozy, President of the French Republic, Anne Lauvergeon, Chairman of AREVA’s Executive Board and Aditya Mittal, Chief Financial Officer of ArcelorMittal, signed an agreement for a 70 million Euro investment aimed at increasing production at the Industeel* steel plant regarding its steel products for the nuclear industry.
The investment, which will be staggered between 2008 and 2010, will increase ingot production capacity significantly (from 35,000 t to 50,000 t a year).
In addition, the two companies will implement a joint 3-year metallurgy research and development program which will be conducted at the Creusot Materials Research Center (CRMC).
This strategic partnership once again underlines ArcelorMittal’s commitment to France. It is part of multi-year steel plant development programs, implemented notably in Dunkirk, Fos and Florange which represent a total investment of 1 billion Euros. This MOU also illustrates the Group’s ability to develop innovative solutions adapted to the specific needs of its industrial customers.
At a time when the nuclear industry is experiencing strong growth worldwide, this partnership will secure the supply of forged nuclear parts for AREVA, via its subsidiary Creusot Forge, and allow it to continue to develop the French nuclear industry. This investment will therefore benefit all the Burgundy region’s nuclear players who have joined forces in a competitiveness cluster known as The Burgundy Nuclear Partnership.
* Industeel is a subsidiary of ArcelorMittal group
About ArcelorMittal
ArcelorMittal is the world's largest integrated metals and mining company, with over 310,000 employees in more than 60 countries.
ArcelorMittal is the leader in all major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in over 20 countries across 4 continents exposes the company to all the key steel markets, from emerging to mature.
ArcelorMittal key financials for 2007 show revenues of USD 105.2 billion, with a crude steel production of 116 million tonnes, representing around 10 per cent of world steel output.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris ( MTP), Brussels (MTBL), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal visit: www.arcelormittal.com
About AREVA
With manufacturing facilities in 43 countries and a sales network in more than 100, AREVA offers customers reliable technological solutions for CO2-free power generation and electricity transmission and distribution. We are the world leader in nuclear power and the only company to cover all industrial activities in this field. Our 65,000 employees are committed to continuous improvement on a daily basis, making sustainable development the focal point of the group’s industrial strategy. AREVA’s businesses help meet the 21st century’s greatest challenges: making energy available to all, protecting the planet, and acting responsibly towards future generations.
Source: ArcelorMittal
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