Jul 4 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.