AREVA sells its Stake in ISIS-MPP
FACTS AND FIGURES / FINANCE
May 16, 2005
AREVA Group subsidiary TECHNICATOME has sold 100% of its controlling stake (*) in ISIS-MPP. ISIS-MPP, based in Toulouse, specializes in electronics and IT services for the design, manufacture and through-life support of test equipment and related software. The company employs around 300 staff and posted revenues of €25.4 million in 2004, generating an approx. 6% operating margin.
Investment funds Truffle Venture (already an ISIS-MPP shareholder) and the IRDI/ICSO (the Midi Pyrénées region institute for industrial development) took part in the buy-out in association with the company's management.
ISIS-MPP general management's participation in the capital of the take-over entity serves as a guarantee to customers that the quality of service provided will be sustained into the future.
The involvement of the IRDI/ICSO in the move strengthens the company's ties to its regional roots, while Truffle Venture's contribution indicates its high expectations for ISIS-MPP's future outlook.
For AREVA, this sale is part of a wider program designed to shift the focus of TECHNICATOME activities back to embedded energy systems, industrial systems and research engineering and instrumentation and control systems for the transport industry.
(*) 71.64% consolidated, using the full consolidation method, in the Reactors & Services division.