AREVA and Northrop Grumman Shipbuilding, a sector of Northrop Grumman Corporation, will invest $363.4 million to partner in a joint venture to manufacture equipment and pressure vessels for the nuclear industry and to provide nuclear engineering services. The new company, AREVA Newport News LLC, will be established in Newport News. It will create 540 new production and engineering jobs.
“This joint venture project is tremendous news for Virginia,” Governor Timothy M. Kaine said. “Both AREVA and Northrop Grumman are stellar companies with strong reputations and a solid presence in Virginia.” AREVA’s presence in Virginia dates to 1957. Today, Lynchburg, Virginia hosts the company’s largest U.S. operations with more than 2,000 employees and the headquarters of AREVA NP Inc. Northrop Grumman Corporation has 16 primary locations in Virginia employing more than 35,000, making it the largest technology/manufacturing private employer in the Commonwealth.
A joint venture between two top Virginia companies who worked together in conjunction with Governor Kaine and a team of economic development professionals underscores Virginia’s collaborative approach to economic development.
“We are establishing a world-class entity that fully supports the deployment of a fleet of U.S. Evolutionary Power Reactors made in America by Americans and for Americans,” said AREVA Inc. CEO Tom Christopher. “Here in Virginia, we have access to a great workforce for both the manufacturing and engineering expertise we need.”
“Our shipbuilders embrace the opportunity to apply their considerable skills and training to a growing U.S. energy sector,” said Mike Petters, corporate vice president and president of Northrop Grumman Shipbuilding. “[They will employ] the same dedication and commitment to domestic energy security that has been applied to national security.”