Areva acquires Nokian Capacitors to lead transmission market

New Delhi, Jan 7 (UNI) To reinforce its position on the growing ultra high-voltage market, Areva's Transmission and Distribution (T&D) Division has signed an agreement with the Finnish company, Nokian Capacitors Ltd, to acquire its activities.

The acquisition is subject to the consultation of trade unions, in compliance with the applicable provisions of the law.

''This acquisition will enable Areva to position itself as a key player on the booming ultra-high voltage markets and to provide its customers with state-of-the-art solutions to minimize their environmental footprint,'' Chairman and CEO Areva's T&D Division Philippe Guillemot said.

Capacitors are components used in High Voltage Direct Current (HVDC) schemes and Flexible Alternative Current Transmission Systems (FACTS). HVDC and FACTS both help reduce CO2 emissions by respectively minimizing power losses and ensuring the balance and efficiency of high-voltage transmission networks. They also facilitate the connection of renewable energy sources into the power network.

Areva offers customers reliable technological solutions for CO2-free power generation and electricity transmission and distribution. It has manufacturing facilities in 41 countries and a sales network in more than 100 countries employing 61,000 employees.

Nokian Capacitors Ltd, with 2006 sales of 51 million euros, currently counts 290 employees and is represented in 70 countries.

UNI BJR PDT HT1812