BETHESDA, Md.--(BUSINESS WIRE)--Nov. 29, 2007--The U.S. International Trade Commission (ITC) voted today in favor of USEC's (NYSE:USU) position that terminating the antidumping duty order on imports of low enriched uranium (LEU) from France would materially injure the U.S. enrichment industry.
Today's ITC vote concludes the "sunset review" of the 2002 antidumping order against French uranium imports. A sunset review is a two-part administrative proceeding conducted every five years in which the ITC and the U.S. Department of Commerce (DOC) make separate determinations that are required for antidumping orders and certain other trade measures to remain in place. In May 2007, the DOC determined that dumping of French LEU is likely to continue or recur if the antidumping duty order were terminated.
This positive ruling from the ITC demonstrates that the dumping of foreign-produced uranium imports continues to be a significant threat to the U.S. enrichment industry, the economic well being of its workers and the communities in which they live. USEC is working vigorously to deploy new uranium enrichment technology at the American Centrifuge Plant in Piketon, Ohio, while maintaining our current enrichment operations in Paducah, Ky., and successfully implementing the Megatons to Megawatts nonproliferation program with Russia. Discipline on unfairly traded imports must be maintained until the success of all these initiatives is assured.
USEC will continue to support the efforts of the U.S. government to address the dumping of foreign-produced uranium imports. USEC also intends to seek U.S. Supreme Court review of the U.S. Court of Appeals for the Federal Circuit's decision that enrichment transactions under SWU (separative work unit) contracts are sales of services, not goods, and thus outside the scope of U.S. antidumping law.
USEC Inc., a global energy company, is a leading supplier of enriched uranium fuel for commercial nuclear power plants.
CONTACT: USEC Inc.
Media:
Elizabeth Stuckle, 301-564-3399
or
Investors:
Steven Wingfield, 301-564-3354
SOURCE: USEC Inc.