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Areva

Areva
Company nameAreva SA
Company typePublic (Euronext - CEI)
IndustryMining, Energy
Founded2001
HeadquartersTour Areva
Courbevoie, Paris, France
Key peopleLuc Oursel - Chief Executive Officer
ProductsUranium, Electricity
Revenue-9.104 billion
Employees47851

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AREVA (Euronext - CEI) is a French public multinational industrial conglomerate headquartered in the Tour Areva in Courbevoie, Paris. AREVA is mainly known for nuclear power; it also has interests in other energy projects. It was created on 3 September 2001, by the merger of Framatome (now AREVA NP), Cogema (now AREVA NC) and Technicatome (now AREVA TA). Its main shareholder is the French public-sector company, the CEA, which owns 78.9%. The CEA's brief is similar to that of the US Department of Energy. But the German company Siemens also retains 34% of the shares of AREVA's subsidiary, AREVA NP, in charge of building the EPR, an advanced Generation III+ PWR nuclear reactor.

The parent company is incorporated under French law as a société anonyme (SA: public corporation) and is also recognized as a public limited company in Britain and a corporation in American jurisdictions. The French State (including the shares owned by the CEA) owns more than 90%. The corporate name AREVA is inspired by the Trappist Santa Maria de la Real monastery in Arevalo in Spain. Anne Lauvergeon is the Chairman of the Executive Board (equivalent to President and CEO).

According to the company official website, AREVA realized -13.16 billion in sales revenue in 2008 and -417 million in operating income. However, AREVA had 6.2 billion euros of net debt at the end of 2009. In June 2010, Standard & Poor's downgraded AREVA’s debt rating to BBB+ due to weakened profitability following a further - 400 million provision for the Olkiluoto-3 over-running European Pressurized Reactor build. In July 2010, the French government authorised a 15% capital increase at AREVA, in which Électricité de France (EDF) could raise its stake from 2.4% to 7%.


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