Mitsubishi Nuclear Fuel Co to be restructured in April

19 February 2009

Japan-based Mitsubishi Nuclear Fuel Co will be restructured in April to become a comprehensive nuclear fuel fabrication company.

Existing shareholders Mitsubishi Materials Corporation (66%) and Mitsubishi Heavy Industries (34%) have entered into a deal with AREVA and Mitsubishi Corporation to form the new company, which will integrate development, design, manufacturing and sales. The new ownership structure will be MHI 35%, MMC 30%, AREVA 30% and MC 5%.

The new company, also named Mitsubishi Nuclear Fuel Co, will supply Japanese customers with uranium fuel assemblies for pressurized water reactors (PWR), boiling water reactors (BWR) and high-temperature gas-cooled reactors, as well as uranium-plutonium mixed oxide (MOX) fuel assemblies. It will also provide related services, including uranium reconversion.

It is also slated to newly enter into overseas markets as an independent supplier of MHI-designed fuel assemblies for PWRs. There are expected to be 540 employees.

In unrelated news, MHI and Areva have confirmed that they are each planning to invest 50% in a new dedicated nuclear fuel fabrication facility in the USA.

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