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Conversion: AREVA wins long-term EDF contract worth several hundred million euros

Press release

NUCLEAR POWER / FRONT-END

January 28, 2009

AREVA and EDF have signed a long-term uranium conversion[1] contract worth several hundred million euros.

The contract, due to come into force in 2009, will be fulfilled initially by output from AREVA’s Comurhex plants, then from 2012 onwards by the new Comurhex II conversion facilities.

This investment, for which work got underway in 2008, comes as nuclear power is enjoying a global renaissance, and will enable AREVA to offer its customers secured conversion services.

Commenting on the deal, Comurhex CEO and AREVA Chemistry BU Executive VP, Christian Barandas said: "We are very happy with this new contract, which enables both groups to see and secure their uranium conversion services, a strategic and highly competitive part of the nuclear fuel cycle."

[1] Converting uranium ore to uranium hexafluoride (UF6) is a key stage in the nuclear fuel cycle, preceding the enrichment then actual fabrication of the fuel used in nuclear reactors. Conversion is performed by Comurhex, an AREVA subsidiary, at its Tricastin and Malvési plants in the south of France. In 2007, AREVA decided to renew its conversion capability by launching Comurhex II, two new industrial facilities in southern France costing €610 million.