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Jeumont SA finalizes the sale of its electromechanical activities to Altawest

News brief

ACTIVITIES / NUCLEAR POWER

January 02, 2007

On December 22, 2006, the shareholders general meeting of Jeumont SA, an AREVA subsidiary, finalized the sale of its electromechanical activities (excluding windturbines activity) to Altawest. The sale followed in-depth labor discussions and came into effect on December 30, 2007.

This new entity will be known as JEUMONT Electric and has premises in Jeumont in the north of France and Carquefou in the west through its subsidiary, Sarelem. JEUMONT Electric employs 450 people and is a well-known player on the average to high power electrical rotating machines market (generators and motors) for electricity generation, the process industry and naval propulsion. The sale to Altawest will enable JEUMONT Electric to forge strategic partnerships to strengthen its dual role as equipment manufacturer and energy services supplier and to develop its activities.

For its part, the nuclear entity of Jeumont SA, which remains an AREVA subsidiary, will now be known as JSPM. Focusing on its core business - solutions for pumps and mechanisms used in nuclear power plants - JSPM will now be able to fully concentrate on the nuclear market which is experiencing a revival across the world.

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Altawest is involved in manufacturing equipment and providing equipment services (boilers, turbines, alternators, etc.) in the field of energy generation and transformation and the environment. Altawest works especially in the electricity generation, co-generation, process industry (oil, refining, chemistry, pulp and paper, agri-food industry, etc.) markets and in naval propulsion.