Northrop Grumman, Areva to build US nuclear parts plant
US defense group Northrop Grumman Northrop Grumman Corporation (NYSE: NOC) is an aerospace and defense conglomerate that is the result of the 1994 purchase of Grumman by Northrop. The company is the third largest defense contractor for the U.S. and French nuclear giant Areva said Thursday they have teamed up to manufacture nuclear reactor components in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. to supply rising demand.
The joint venture, Areva Newport News Newport News, independent city (1990 pop. 170,045), SE Va., on the Virginia peninsula, at the mouth of the James River, off Hampton Roads, near Norfolk; inc. 1896. , with Areva as the majority owner, was forged to build a manufacturing and engineering facility that will make heavy components for Areva's third-generation US Evolutionary Power Reactor (EPR EPR Electron Paramagnetic Resonance
EPR Extended Producer Responsibility
EPR Electronic Patient Record(s)
EPR Emergency Preparedness and Response (US DHS)
EPR Endpoint Reference
EPR Ethylene-Propylene Rubber ), the two companies said in a statement.
They said the new facility, to be built in Newport News, Virginia Newport News is an independent city in Virginia. It is on the southwestern end of the Virginia Peninsula, on the north shore of the James River extending to its mouth at Hampton Roads.
The origin of the unusual name of "Newport News" is unclear. , would "supply the growing American nuclear energy sector."
The announcement comes as US President George W. Bush's administration is promoting a resurgence in nuclear power to counter the country's dependence on foreign oil imports. The nuclear power option gained traction in the past year as high energy prices pressure the economy.
The partners in the venture are Areva Inc., the US arm of the French company, and Northrop Grumman Shipbuilding, a unit of Northrop that builds large nuclear and non-nuclear ships for the US Navy.
The companies said they would invest more than 360 million dollars in the facility and the project would create more than 500 jobs.
Construction on the facility was set to begin in early 2009.
"Areva intends to build one-third of all new reactors around the world and at least seven in the United States. Areva Newport News is a key step in our dual strategy to increase domestic content in the new nuclear power plants we build and to produce in the local currency," the chief executive of Areva, Anne Lauvergeon, said in the statement.
The EPR is a third-generation pressurized pres·sur·ize
tr.v. pres·sur·ized, pres·sur·iz·ing, pres·sur·iz·es
1. To maintain normal air pressure in (an enclosure, as an aircraft or submarine).
2. water nuclear reactor. Areva, which is controlled by the French state, currently is building the first ones in France and Finland.