Japan Steel Works Signs Supply Agreement with AREVA

Pact covers supply of large forgings through 2016.

Forging has learned that Japan Steel Works will be supplying large forgings to France's AREVA for several years to come. In November, 2008, Masahisa Nagata, president and CEO of JSW and Anne Lauvergeon, CEO of AREVA, signed an agreement in Paris to supply AREVA until 2016 and beyond with large forged parts, essential for the manufacture of nuclear components.

The agreement is part of a long-term investment program and marks another important stage in the relationship between the two groups, confirming their position as preferred partners.

AREVA also announced its friendly acquisition of 1.3% of JSW stock.

The agreement on the one hand confirms JSW as world leader for the supply of large forged parts, while on the other hand enables AREVA to secure supplies, to meet the growing demands of its nuclear customers.

According to JSW's Nagata, "This long term agreement has given us certain confidence on proceeding to the next round of our major capacity expansion program. As a result, I am sure that our business relationship with AREVA will be expanded further in the future so each of us can play the important role in the rapidly growing nuclear market".

AREVA's Lauvergeon added that "to keep pace with the rapid revival of nuclear, we need to keep on increasing our resources, investing and forming partnerships around the world. JSW is a case in point".

JSW has been providing the world's major industries including power generating, steelmaking, and petrochemical with various kinds of high quality steel and machinery products.

For more information on JSW, go to www.jsw.co.jp/

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