. areva headquarters in courbevoie france trading name euronext areva type public industry energy founded 2001 ; 15 years ago 2001 headquarters courbevoie paris france area served worldwide key people philippe knoche acting ceo products nuclear power uranium electricity renewable energy 1 owner cea 54.37 % state of france 28.83 % bpifrance 3.32 % edf 2.24 % kia 4.82 % number of employees 45 340 2013 2 subsidiaries areva np areva nc areva ta areva mines euriware areva med website www.areva.com areva is a french multinational group specializing in nuclear power and renewable energy headquartered in paris la d fense . 3 areva is majority owned by the french state 4 through french alternative energies and atomic energy commission 54.37 % banque publique d investissement 3.32 % and agence des participations de l tat 28.83 % . 5 moreover lectricit de france which french government had a majority ownership owned 2.24 % ; kuwait investment authority owned 4.82 % as the second largest shareholders after the french state . 6 in 2017 the majority of its reactor business will be sold to lectricit de france . 7 contents 1 history 1.1 1958 2001 1.2 2001 areva created 1.3 2003 1.4 2006 1.5 2010 1.6 2011 1.7 2014 1.8 2015 1.9 2016 2 business lines 2.1 mining business group 2.2 front end business group 2.3 reactors & services business group 2.4 back end business group 2.5 renewable energies business group 2.5.1 concentrated solar power 2.5.2 offshore wind power 2.5.3 biomass power 2.5.4 energy storage 2.6 other activities 3 subsidiaries 4 management 4.1 the executive board 5 recent finance 5.1 2014 5.2 2013 5.3 2012 5.4 2011 5.5 2010 6 nuclear reactor designs 6.1 epr 6.1.1 finland 6.1.2 france 6.1.3 china 6.2 atmea i 6.3 kerena 7 worldwide presence 7.1 areva in europe 7.1.1 uk 7.2 areva in africa 7.2.1 niger 7.2.2 namibia 7.2.3 gabon 7.2.4 libya 7.3 areva in north america 7.3.1 canada 7.3.2 united states 7.3.2.1 eagle rock enrichment facility 7.4 areva in asia 7.4.1 south korea 7.4.2 china 7.4.2.1 cpr 1000 7.4.3 india 7.4.4 kazakhstan 8 notable incidents 8.1 2007 fine 8.2 bakouma assault 8.3 tuareg people 9 sport sponsoring 10 see also 10.1 sites 11 references 12 external links history edit 1958 2001 edit areva headquarters rue lafayette in paris areva has its roots in framatome which was founded in 1958 by several companies of the french industrial giant the schneider group along with empain merlin g rin and the american westinghouse in order to license westinghouse s pressurized water reactor pwr technology and develop a bid for chooz a in france . called franco am ricaine de constructions atomiques framatome the original company consisted of four engineers one from each of the parent companies . the original mission of the company was to act as a nuclear engineering firm and to develop a nuclear power plant that was to be identical to westinghouse s existing product specifications . the first european plant of westinghouse design was by then already under construction in italy . a formal contract was signed in september 1961 for framatome to deliver a turnkey system that is not only the reactor but an entire ready to use system of piping cabling supports and other auxiliary systems propelling framatome from a nuclear engineering firm to an industrial contractor . in january westinghouse agreed to sell its remaining 15 percent share to creusot loire which now owned 66 percent and to cede complete marketing independence to framatome . 8 in february the belgian douard jean empain sold his 35 percent interest in creusot loire to paribas a french government linked banking group . citation needed a january 1982 company reorganization simultaneously strengthened french public and private control of the company by allowing creusot loire to increase its share of the company while increasing cea say in the running of the firm . in 2001 german company siemens nuclear business was merged into framatome . 9 framatome and siemens had been officially cooperating since 1989 for the development of the european pressurized reactor epr . 10 2001 areva created edit areva was created on 3 april 2001 by the merger of framatome now areva np cogema now areva nc and technicatome now areva ta . it was based on the structure of its precursor cea industrie and anne lauvergeon was named ceo . 11 in 2009 siemens sold its remaining shares of areva np . 12 13 14 2003 edit jean pierre raffarin the former prime minister of france government announced the privatization of areva in 2003 but it was postponed several times the french government opting finally for the privatization of gdf and edf . at the end of october 2005 french prime minister dominique de villepin announced that he had suspended the privatization process . 2006 edit in 2006 areva created its renewable energies business group . 15 2010 edit in march 2010 areva indicated work was being done on a new type of burner reactor type capable of breaking down actinides created as a product of nuclear fission . 16 2011 edit in december 2011 areva suspended building work at several sites in france africa and the united states one day after forecasting a 1.6 billion 2.1 billion loss . areva halted capacity extensions at its la hague reprocessing plant in northern france at its melox factory in the southwest and at two sites attached to its tricastin power plant in the south . work has also stopped on extensions to uranium mines in bakouma in the central african republic trekkopje in namibia and ryst kuil in south africa 17 and caused a potential delay in construction until a capital solution is secured for the eagle rock enrichment facility in the united states . 18 areva wrote off most of the 2.5 billion purchase cost of canadian uranium mining company uramin purchased in 2007 after concluding that its uranium ore deposits were of negligible value . 19 2014 edit in september 2014 standard & poor s stated it might downgrade areva s debt following weak first half results leading to areva indicating it would cut capital spending and dispose of some assets . 20 in october 2014 ceo luc oursel took a leave of absence for health reasons . 20 he died in december of the same year . 21 on 19 november 2014 areva suspended its financial targets for 2015 2016 as a result of delays on its finnish project and lacklustre nuclear market . 22 as a result on 20 november 2014 standard & poor s downgraded areva long term debt to bb and short term debt to a 3 . 23 24 this led to difficulties for areva to raise money on the financial market however according to s & p areva has a high cash cushion . some analysts speculate that areva needs a 1.5 2 billion euro capital increase at the moment the french government second valls government is unwilling to increase capital for the state owned company . 25 the balance sheet 2014 shows a sales revenue of 8.336 bn euro and a consolidated net income of 4.834 bn euro 0 58 euro loss per 1 euro sales revenue . 26 2015 edit in march 2015 standard & poor s further downgraded areva s credit rating to bb after areva posted a 4.8 billion loss for 2014 . areva intends to cut costs to save about 1 billion annually by 2017 and to sell 450 million of assets by 2017 . 27 28 the french government is considering a rescue plan which may include some form of bailout from lectricit de france edf . 19 in may areva announced that it expected to cut 5 000 to 6 000 jobs out of its 42 000 employees globally . 29 in july 2015 edf agreed to a majority stake in areva np . 30 bernard fontana has been appointed ceo of areva np as of 1 september 2015 . 30 on october 31st 2015 it was announced that mitsubishi heavy industries would be taking an equity stake in areva np up to 34 percent possibly eventually extending it to one in areva as a whole . 31 mhi decided to take this step because of areva np s vital role in their atmea reactor joint venture . in july 2015 edf valued areva np at 2.7 billion 2.9 billion and agreed to take a majority stake in areva np following a french government instruction they create a global strategic partnership . 32 2016 edit in june 2016 areva s restructuring plans were made public including the sale of the majority of its reactor business to edf in 2017 excluding the olkiluoto 3 epr under construction in finland which will remain with areva sa . 7 business lines edit areva is an international company in nuclear and renewable energy . 33 it is the only company with a presence in each industrial activity linked to nuclear energy mining chemistry enrichment fuel assembly reprocessing engineering nuclear propulsion and reactors treatment recycling stabilization and dismantling . areva offers technological solutions for co free energy partly through areva renewables . 34 areva s activities are divided into 5 business groups 35 mining combines operations related to uranium exploration extraction processing and reclamation of sites . 36 front end encompasses uranium conversion and enrichment nuclear fuel design and production . 37 reactors and services designs and builds nuclear power plants naval propulsion reactors and research reactors and manufactures related equipment . 38 back end manages all operations in the back end of the nuclear cycle from used nuclear fuel recycling to the dismantling and value development of nuclear facilities . 39 renewable energies develops and manages a portfolio of operations revolving around 4 renewable energies wind energy bioenergy solar power and hydrogen power as well as and energy storage . 40 areva s subsidiary for power transportation and distribution areva t & d was sold to schneider electric and alstom in june 2010 . 41 current subsidiaries include euriware and safran . mining business group edit the mining business group manages the exploration of uranium ore its extraction and processing as well as the restoration of sites after mine closure . 42 areva s mining business group has staff on five continents and operates uranium production sites in canada kazakhstan and niger . 43 as of the end of 2013 the mining business group employed 4 463 people . 44 uranium production accounted for 19 percent of areva s consolidated revenue in 2013 . 36 front end business group edit the front end business group secures access to fuel for areva s customers and oversees operations to convert uranium into nuclear fuel including the chemical conversion of ore into uranium hexa uoride the enrichment of uranium and the design and production of fuel for nuclear reactors . 45 as of the end of 2013 8 555 people worked for areva s front end business group . 37 the business group accounted for 24 percent of areva s consolidated revenue . 37 in 2013 the front end business group saw a 6.8 percent revenue increase to 3 billion . 46 the front end business group is divided into two main business units the chemistry and enrichment business units which were previously separate units of the front end business group merged to become one at the start of 2013 . on the chemistry side the unit focuses on converting natural uranium into uranium hexafluoride . the enrichment side of the unit supplies clients with enrichment services . the fuel business unit is responsible for fuel design and production and markets fuel related engineering services . it markets conventional enriched uranium oxide fuel as well as mox fuel and enriched reprocessed uranium fuel . 44 reactors & services business group edit the reactors & services business group designs and builds pressurized water reactors pwr and boiling water reactors bwr . the business group also designs and