AREVA finalizes SFARSTEEL acquisition
FINANCE / REACTORS AND SERVICES
September 08, 2006
On September 8, 2006, AREVA NP* and France Essor signed an agreement finalizing the purchase of SFARSTEEL.
SFARSTEEL has a workforce of almost 400 people and is one of the leading worldwide manufacturers of large forged parts. Its four production facilities are located in the Le Creusot basin in central France. The company posted revenues of 69 million euro in 2005 - a figure which is set to double in 2006.
"This is a strategic move," explains Vincent Maurel, President and CEO of AREVA NP and a member of AREVA's Executive Board. "At a time when the new builds market in the nuclear power industry is picking up again, forged parts are essential in ensuring the quality and prompt delivery of nuclear equipment at competitive prices".
The integration of SFARSTEEL into AREVA's Equipment Business Unit will strengthen its offer on the new generation reactors' market and in particular the EPR.
*AREVA NP is an AREVA (66%) and Siemens (34%) company.