Defense and technology company Northrop Grumman Corp. said its shipbuilding division is
creating a joint venture with France's Areva SA to build a manufacturing and engineering facility in Newport News, Va., to supply the American nuclear energy sector. As the U.S. searches for energy independence -- or something close to it -- proponents of nuclear energy have been touting improved technology and safer methods of producing nuclear power.
The JV, Areva Newport News LLC, will not handle any radioactive material. Instead, it will supply heavy components, such as reactor vessels, steam generators and pressurizers to the industry. The components will supply the first new U.S. nuclear power plants to be built in 35 years. Areva CEO Anne Lauvergeon said "Areva intends to build one third of all new reactors around the world and at least seven in the U.S."
WSJ.com said orders from U.S. nuclear operators could top $100 billion in coming years, and some are hoping that a wave of nuclear construction could also bolster the nation's ailing manufacturing sector.
Areva will have the majority stake in the joint venture. -
Baz HiralalSee the press releaseGo to the story from PilotOnline.comSee the WSJ article
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