Japan's Mitsubishi Heavy Industries, Ltd. (MHI) has acquired a 19.5% equity stake in Framatome, a French company that designs and manufactures nuclear power plant (NPP) equipment and systems and renamed from New NP.
The investment is aimed at establishing a global structure for delivering the latest technologies for safe and reliable nuclear power generation through strategic collaboration between MHI, Framatome and Electricité de France (EDF), the company said in a press release Friday. It will also support the promotion of sales of the ATMEA1 reactor through collaboration with EDF.
Framatome will specialize in after-sale servicing of existing plants as well as fuel supply, and the design, manufacture and sale of reactor equipment for new plants; an area expected to generate stable earnings.
Following completion of the investment, MHI President and CEO Shunichi Miyanaga commented, "MHI has been a key player in cooperation between Japan and France in the development of nuclear power generation technologies for many years. With the completion of our investment into Framatome, a new structure has been created that will further strengthen the ties between our nuclear energy industries, and I am confident this new relationship will enable further improvement in technologies to ensure the long-term sustainability and reliability of nuclear energy."
Under the new arrangement, MHI, EDF and Framatome will collaborate in promoting worldwide sales of the ATMEA1 reactor, including equipment supply to NPPs, after-sale servicing, and decommissioning work.
MHI is also scheduled to acquire a 5 percent equity stake in New AREVA Holding (formerly referred to as "NewCo"), a company primarily focused on the fuel cycle field business. The investment is due to be completed by the end of January 2018.
Boeings Ground Based Strategic Deterrent (GBSD) program to replace the nuclear-armed Minuteman III intercontinental ballistic missile (ICBM) completed its first key review with the U S Air Force. The review validated program technical requirements prior to the design and development phase of Americas next intercontinental ballistic missile system, a Boeing release said
US President Donald Trump believes that North Koreas nuclear weapons are a greater threat than Russias alleged interference in his election, a Trump aide said Sunday. Responding to a question about whether Trump accepts the US intelligence community's assessment that Russia tried to sway last year's election in his favour, White House director of legislative affairs, Marc Short said, Trump would rather work with Moscow as he does not consider Russia major threat than North Koreas nuclear weapons,
Bechtels plant machinery company has received almost $230 million cost-plus-fixed-fee, sole-source contract to provide nuclear propulsion components to the U.S
Turkish Atomic Energy Agency (TAEK) is working on a detailed study for the construction permit for Akkuyu nuclear power plant (NPP). The NPP is to be constructed by Russian State Atomic Energy Corporation, Rosatom within the next six months, Anadolu Agency reported Wednesday
Russia has offered to help South Korea build a ready-to-operate nuclear power plant for maritime propulsion using the RITM-200 reactor as a basis for its design, JSC Afrikantov OKBM, said in a 2017 annual report made public on Tuesday. JSC Afrikantov OKBM, is a subsidiary of Rosatom nuclear corporation and the main developer of nuclear reactor cores for Russian naval vessels
Mitsubishi Heavy Industries, Ltd. (MHI) has delivered aft fuselage panels for the first Boeing 777X, next-generation wide-body passenger aircraft
Fighter Jets to land, take off from New Chinese Carrier
Rheinmetall, Thales Modernize Tiger Helicopter Simulators
Basic Operational Clearance, User Trials of HAL’s HTT 40 Trainer Aircraft Soon
Thailand Upgrades F5 TH Jets to Bring them on Par With Gripen...
Bangladesh to Buy Fighter Jets, Apache Gunships & Missile Systems from US
India's Tejas Mk2 in Final Trials
Russia Seeks Customers for 6 Upgraded, Former Indian Air Force Su-30 Fighters
Italian Arms Exports to Pakistan Jump four-folds in 1 year
Several joint production and direct procurement programs could be halted if the US and Europe carry through with their threat...
Sanctions-hit Iran has found ingenious ways to develop military hardware
Artificial Intelligence (AI) is rapidly permeating the defence industry to aid and improve human decision-making
Upgrade of Russias Sukhoi Su-30SM fighters to equip them with armaments, radar, sensors and engines from the more powerful Su-35...
US companies sanctioned by China for supplying weapons to Taiwan may be denied rare earth elements (REEs), which have critical...
While the US F-35 stealth aircraft has become one the fastest selling fighter jets in the world aircraft market, thanks...