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ArcelorMittal and AREVA Enter Industrial Partnership
07/04/2008 - AREVA and ArcelorMittal enter agreement for a 70-million-Euro investment aimed at increasing production of steel products for the nuclear industry at ArcelorMittal subsidiary, Industeel.
AREVA and ArcelorMittal have entered an agreement for a 70-million-Euro investment aimed at increasing production of steel products for the nuclear industry at ArcelorMittal subsidiary, Industeel. The agreement was signed by AREVA Executive Board Chairman Anne Lauvergeon and ArcelorMittal Chief Financial Officer Aditya Mittal in the village of Le Creusot in France.
The investment, which will be staged between 2008 and 2010, will facilitate a significant expansion of ingot production capacity, from the current 35,000 tonnes to a future 50,000 tonnes per year. The two companies also will implement a joint 3-year metallurgy research and development program that is to be conducted at the Creusot Materials Research Center (CRMC).
This strategic partnership is part of ArcelorMittal’s investment in France, which also includes multi-year steel plant development programs at Dunkirk, Fos, and Florange, which represent a total investment of 1 billion Euros.
Against the backdrop of strong international growth for the nuclear industry, ArcelorMittal said this partnership will help to secure AREVA’s supply of forged nuclear parts, via its subsidiary Creusot Forge, and allow it to continue to develop the French nuclear industry. The investment supports the Burgundy region’s nuclear players who have joined forces in a competitiveness cluster known as The Burgundy Nuclear Partnership.
Industeel, a subsidiary of the ArcelorMittal group, operates production facilities in Charleroi, Belgium; and Le Creusot and Châteauneuf & St-Chamond, France.
ArcelorMittal is the world's largest integrated metals and mining company, with over 310,000 employees in more than 60 countries. The company leads a number of major global markets, and holds leading R&D and technology, as well as sizeable captive supplies of raw materials and significant distribution networks. An industrial presence in over 20 countries across 4 continents exposes the company to key steel markets, from emerging to mature.
ArcelorMittal’s key financials for 2007 show revenues of USD 105.2 billion, with a crude steel production of 116 million tonnes, representing around 10% of world steel output.
