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10 July 2006 - Areva T & D has signed an agreement with the Ritz Group setting out the terms for the acquisition of the Group's high-voltage Instrument transformers activities.

Ritz High Voltage, with annual sales of €50m($64m) and approximately 500 employees, is a worldwide leader in instrument transformers.

Areva said in a statement that the transformers business product portfolio and geographic penetration were very complementary especially in strategic countries such as China and the United States.

Once the suspensive conditions have been met, the acquisition process should be completed by the end of the summer to allow integration of this activity into Areva T&D's operations.

Areva said that the deal was in line with its targeted acquisition strategy to reinforce each product line. Philippe Guillemot, Chairman and CEO of Areva T&D, said," With this acquisition, we confirm our ambition to become the benchmark in the worldwide transmission and distribution industry."

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