BETHESDA, Md.--(BUSINESS WIRE)--Nov. 20, 2006--The U.S. Nuclear Regulatory Commission's Atomic Safety and Licensing Board has issued an order detailing a tentative schedule that anticipates a licensing decision for USEC Inc.'s (NYSE:USU) American Centrifuge Plant in May 2007. The NRC had previously indicated that a decision would be issued in March 2007.
The ASLB based its order on the hearing schedule set forth by the NRC in a 2004 ruling, which anticipates that the board will issue its initial decision within 240 days of the issuance of the final Safety Evaluation Report (SER) for a licensee's application. The NRC issued the SER on September 11, 2006.
Construction for the commercial plant is expected to begin after the license is issued. As previously announced, during the first half of 2007 USEC will focus on the lead cascade of machines it expects to be installed and operating by mid-2007 in its Demonstration Facility in Piketon, Ohio. The NRC granted a license for the Demonstration Facility in February 2004.
USEC plans the American Centrifuge Plant to be a 3.5 million separative work unit commercial uranium enrichment facility using gas centrifuge technology originally developed by the U.S. Department of Energy but with expected design improvements.
USEC Inc., a global energy company, is a leading supplier of enriched uranium fuel for commercial nuclear power plants.
This news release contains forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainty. Economic, business, market, regulatory, technology and other factors could cause USEC's actual future results to differ materially from those expressed in our forward-looking statements. More information about these factors is contained in USEC's filings with the Securities and Exchange Commission, including USEC's annual report on Form 10-K and quarterly reports on Form 10-Q, which are available on USEC's website www.usec.com. USEC does not undertake to update its forward-looking statements except as required by law.
CONTACT: USEC Inc.
Media: Elizabeth Stuckle 301-564-3399
Investors: Steven Wingfield 301-564-3354
SOURCE: USEC Inc.