June 06, 2008

Gordon Hickey

Denise Woernle
(434) 832-3848
Christie Miller
(804) 545-5805
-AREVA NP to invest $25 million in expansion -

RICHMOND - Governor Timothy M. Kaine today announced that AREVA NP Inc. will invest $25 million to expand its U.S. headquarters in the City of Lynchburg. The company will increase its existing engineering/nuclear service staff in anticipation of future orders for nuclear reactors, creating 500 jobs. Charlotte, North Carolina, where AREVA NP has a large engineering function, also was a contender.

“It speaks volumes that AREVA NP considers Virginia home for its North American headquarters and continues to invest in its operations in the Lynchburg region,” said Governor Kaine. “The Commonwealth has major infrastructure to support the nuclear industry, in part due to AREVA’s long-standing history and commitment to the state. The 500 new jobs are in addition to the 2,000 AREVA employees already in Lynchburg who are a vital part of the vibrant, growing knowledge-based and high performance manufacturing economies found in Virginia.”

AREVA NP is an AREVA group company dedicated to the design and construction of nuclear power plants and research reactors, engineering, instrumentation and control, modernization maintenance and repair services, components manufacture and supply of nuclear fuel. Headquartered in Paris with regional subsidiaries in the U.S. and Germany, AREVA NP has a total workforce of 14,200 employees and is active in Eastern and Western Europe, North and South America, Asia and Africa.

“As the nuclear renaissance continues, we are leading the way with the EPR, (Evolutionary Pressurized Reactor) which was submitted to the Nuclear Regulatory Commission for design review in December 2007,” said AREVA NP Inc. CEO Thomas Christopher. “The next phase in bringing an EPR online by 2015 is the detailed design which requires approximately five million hours of engineering work, and we are aggressively recruiting skilled engineers to support this effort. This expansion will provide much of the space we need to accommodate our growth. Lynchburg, Virginia offers a great place to live and work and we appreciate the support of the city, the region and the state.”

The Virginia Economic Development Partnership worked with the City of Lynchburg and Virginia’s Region 2000 Partnership to secure the project for Virginia. Governor Kaine approved $1 million from the Governor’s Opportunity Fund to assist Lynchburg with the project. The Governor also approved $1.5 million in funds from the Virginia Economic Development Incentive Grant (VEDIG). VEDIG was established as a program of performance-based incentives that the Commonwealth awards to exceptional economic development projects with large numbers of employees and very high wages relative to average wages for that particular area. The company also qualifies for a Major Business Facility Job Credit. The Virginia Department of Business Assistance will provide training assistance through the Virginia Jobs Investment Program.

Lynchburg Mayor Joan F. Foster welcomed the announcement of AREVA NP’s additional investment in the Lynchburg community. “AREVA NP is a valued corporate citizen in Region 2000 and we are gratified by the expression of confidence in Lynchburg indicated by AREVA NP’s decision to grow further in our community. I want to thank the Governor’s Office, the Virginia Economic Development Partnership, Region 2000, the Lynchburg IDA, and the City’s economic development team for helping to make this investment a reality. Most of all, I want to express my deep appreciation to AREVA NP for their continuing commitment to the City of Lynchburg and the region.”


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