As announced in the publication of the company’s financial results in February 2016, AREVA confirmed in June 2016 its intention to proceed with its corporate restructuring.
Why a restructuring?
The restructuring of the AREVA group resulted from the need to strengthen the financial base and competitiveness of the products, especially for the market of new builds, and to share the skills between AREVA NP and EDF in nuclear field and activities, which opened the opportunity for a rapprochement between them. In the nuclear fuel cycle market (Uranium supply and processing, fuel recycling, waste management and dismantling), it was required to strengthen the Group’s financial structure, renovate its industrial plants and enhance its innovation and technology base.
Role of AREVA S.A.
In this context, the main mission of AREVA S.A. is to carry out the operations and commitments as follows:
- Complete the EPR OL3 reactor project in Finland, with the necessary resources, in compliance with its contractual obligations
- Close the residual Renewable Projects, once its contractual commitments have been met
- Create the New NP Nuclear Pole of Excellence for sale to EDF
A capital increase of AREVA S.A., amounting to € 2 billion and reserved for the State, was made on July 13, 2017. It should enable the structure, in addition to the proceeds of future transfers, to meet its cash requirements and to ensure the successful completion of the OL3 project.
AREVA NP is a major international player in the nuclear energy market recognized for its innovative solutions and value-added technologies for designing, building, maintaining, and advancing the global nuclear fleet. The company designs, manufactures, and installs components and fuel for nuclear power plants and offers a full range of reactor services.