The largely state owned French nuclear industry has announced a major restructuring of its major components. Cogema, the fuel cycle company, Framatome, nuclear plant supplier, and CEA Industrie, industrial wing of the French national nuclear commission, will be integrating their operations under a single holding company. The new group will be the largest nuclear industry company in the world, it is claimed.

To be called Areva, the new company is expected to achieve annual sales in the region of of $9 billion. The creation of Areva is in line with plans first mooted last November to integrate the nation’s nuclear companies. Anne Lauvergeon, chairwoman of Cogema, will fill that post too at Areva. There are plans to list the new company’s stock, but no date has been decided as yet.