AREVA Announces Virginia Investment Partnership Grant, Unveils New Operational Center of Excellence
December 17, 2013
CHARLOTTE, N.C., December 17, 2013 – AREVA Inc. announced today a package of state and local incentives to support its capital investment in the commonwealth of Virginia. Totalling $700,000, the package includes a $350,000 Virginia Investment Partnership (VIP) grant, $132,000 from Campbell County, and $218,000 from the city of Lynchburg. The grants were announced by Virginia Governor Bob McDonnell during an event unveiling AREVA North America’s new Operational Center of Excellence for Nuclear Products and Services located in Lynchburg, Va.
With more than 1,800 employees in central Virginia, AREVA plans to invest $26.3 million in the state. This includes adding $10.9 million in machinery and tools in Lynchburg over the next three years, and $6.9 million of investments in the AREVA Solutions Complex in Campbell County.
These investments better position AREVA’s Installed Base business to provide customers with innovative solutions, high-quality performance and on-time delivery. The company currently supports the more than 100 nuclear reactors in North America through maintenance, upgrades, modernizations, lifetime extensions and reactor completion. By diversifying its technical services and product offerings, AREVA will be better able to compete in today’s shifting nuclear energy market.
“We are honored to receive a Virginia Investment Partnership grant, which is a symbol of the relationship we have built with the community. This grant will help us to continue to invest in and expand our facilities in Lynchburg and Campbell County like our AREVA Solutions Complex, our partnership with CVCC/AREVA Technology Center, and the governor's STEM Academy,” said Mike Rencheck, president and CEO of AREVA. “Our new Operational Center of Excellence for Nuclear Products and Services in North America better positions us to continue driving the daily nuclear energy renewal. Through this daily renewal, we are working to ensure safe, round-the-clock power, which is critical to tomorrow’s supply of clean electricity.”
AREVA Inc. Press Office
AREVA Inc. North America