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Nuclear Energy Firm, AREVA, Invests $26.3 Million To Create Operational Center of Excellence In Lynchburg and Campbell County, Virginia

AREVA Inc., a nuclear energy company, will invest $26.3 million to upgrade its Lynchburg and Campbell County, Virginia, facilities into its Operational Center of Excellence for Nuclear Products and Services in North America. The company will invest in highly advanced machinery and equipment to enhance research and development capabilities and elevate its competitiveness in advanced manufacturing.

"Our new Operational Center of Excellence for Nuclear Products and Services in North America will give us the competitive and innovative edge we seek that will enable us to proactively identify customer needs and better provide safe, accurate and affordable holistic solutions," said Mike Rencheck, President and CEO of AREVA Inc. "The location of this world -class operation will better position us to continue driving the daily nuclear energy renewal, which is ensuring safe, round-the-clock power, and is critical to tomorrow's supply of clean energy."

Gov. Bob McDonnell said, "This project is truly transformational for the future of AREVA Inc.'s operations in the City of Lynchburg and Campbell County. The company employs nearly 2,000 Virginians in a variety of high-skilled positions, and an investment of this magnitude secures the long-term viability of the plants as Research & Development capabilities and advanced manufacturing are significantly enhanced. The designation of AREVA's Lynchburg and Campbell County facilities as the company's Operational Center of Excellence for Nuclear Products and Services in North America is an incredible testament to the success and continued potential of these operations."

"AREVA Inc. and its U.S. subsidiaries form the number one supplier of nuclear energy products and services in the nation, and we are proud that the company's operations in Lynchburg and Campbell County are of the highest caliber to be designated as AREVA's Operational Center of Excellence for Nuclear Products and Services in North America," said Jim Cheng, Virginia Secretary of Commerce and Trade.

The Virginia Economic Development Partnership worked with the City of Lynchburg and Campbell County to secure the project for Virginia. Governor McDonnell approved a $350,000 performance-based grant from the Virginia Investment Partnership program, an incentive available to existing Virginia companies.

"AREVA continues to be a core business for Lynchburg and an integral part of the region's economy," said Mike Lucado, City of Lynchburg Economic Development Authority Chair. "As a worldwide leader in the nuclear power industry, their expansion here further demonstrates that Lynchburg's efforts to attract, retain and promote business growth are having a positive result. We congratulate AREVA and look forward to their presence for years to come."

"We are delighted to hear of another expansion for AREVA," stated Eddie Gunter, Chairman of the Campbell County Board of Supervisors. "It was just April of 2012 when AREVA announced the expansion of its U.S. Technical Center on Mt. Athos Road. This latest expansion and the roll out of the Operational Center of Excellence for Nuclear Products and Services comes as great news for Campbell County and the Lynchburg region."

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