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Mitsubishi Heavy acquires stake in nuclear fuel handler

Mitsubishi Heavy Industries Ltd. has completed its acquisition of a 5% stake in Orano for a total investment of about €250 million.

France-based Orano was created as part of the reorganization of AREVA Group and was formerly known as New AREVA Holding. The company focuses on fuel cycle business of Areva, including uranium mining, enrichment and conversion and reprocessing of spent fuel.

Mitsubishi Heavy Industries also announced that it completed an investment in Electricite de France's newly formed company Framatome in late December 2017. Framatome specializes in the design and manufacture of nuclear power plant equipment and systems.