Framatome and Naval Group announced the completion of the acquisition of Jeumont Electric from the group Altawest. Jeumont Electric is an industrial company specializing in the manufacture and maintenance of motors and electrical equipment for the nuclear energy and naval defense sectors. The acquisition enables Framatome and Naval Group to consolidate their activities in their respective sectors and aims to ensure Jeumont Electric remains a global reference in its field. Jeumont Electric offers a wide range of manufacturing, maintenance, and replacement services for electrical equipment, based on recognized expertise and proprietary technologies. It has a global presence, and serves a customer base of major global groups, such as shipyards, nuclear operators, and leading manufacturers. Founded 125 years ago and with 620 employees, Jeumont Electric has four production sites in France and operates in more than 70 countries around the world.
“The implementation of our naval programs, and in particular propulsion equipment, requires highly qualified teams and unique know-how. It is with this objective in mind that we wish to perpetuate the exceptional skills of Jeumont Electric as a global reference in its field, serving notably the French defense industry,” said Pierre Éric Pommellet, Chairman and CEO of Naval Group.
“Jeumont Electric is a strategic supplier to the nuclear industry and has recognized expertise in the manufacture and maintenance of motors and equipment for the energy and defense sectors. This acquisition secures our supply chain and is a response to sovereignty issues. The existing Framatome site in Jeumont and the Jeumont Electric site share a common history. The close proximity of the two sites will allow industrial complementarities. I welcome the employees of Jeumont Electric to our team,” said Bernard Fontana, CEO of Framatome.
Framatome is an international leader in nuclear energy recognized for its innovative, digital and value added solutions for the global nuclear fleet. With worldwide expertise and a proven track record for reliability and performance, the company designs, services and installs components, fuel, and instrumentation and control systems for nuclear power plants. Its more than 18,000 employees work every day to help Framatome’s customers supply ever cleaner, safer and more economical low-carbon energy. Framatome is owned by the EDF Group (75.5%), Mitsubishi Heavy Industries (MHI – 19.5%) and Assystem (5%).
Naval Group is a major French industrial group specializing in naval defense design, development and construction. Its headquarters are located in Paris. Heir to the French naval dockyards initiated in 1631 by Cardinal Richelieu and to the Direction des Constructions et Armes Navales (DCAN), which became Direction des Constructions Navales (DCN) in 1991 and then DCNS in 2007, the company was rebranded Naval Group in 2017. Naval Group’s activities can be broken down into two main sectors: naval defence, the group’s historical core business (ships, submarines, operational readiness management of the forces). In 2021, Naval Group stops its activities in the area of maritime renewable energy. Its two main shareholders are the French State (62.25%) and Thales Group (35%). Naval Group employs 14,000 people across 18 countries.
