02/26/02
Statement by USEC Inc.; Status of the Russian HEU Purchase Contract; Terms Reached for Future Implementation of the Megatons to Megawatts Program
BETHESDA, Md., Feb 26, 2002 (BUSINESS WIRE) -- USEC Inc. is the executive agent
of the U.S. government under the Russian HEU Agreement to purchase the
enrichment component of low-enriched uranium (LEU) recovered from dismantled
Russian nuclear warheads for use as fuel in commercial nuclear power plants. In
November 2001, the U.S. government authorized USEC to conclude negotiations on
contract terms with the Russian executive agent, TENEX, for calendar year 2002
and beyond.
Terms have been agreed to in Moscow by the U.S. and Russian executive agents responsible for implementing the HEU Agreement.
A signed contract amendment has been referred to the U.S. and Russian governments for approval. As soon as the two executive agents receive approval from their respective governments, USEC will provide further information.
Shipments to USEC by TENEX of LEU derived from Russian nuclear warheads will commence in March, as scheduled.
USEC Inc. (NYSE:USU), a global energy company, is the world's leading supplier of enriched uranium fuel for commercial nuclear power plants. TENEX is a Russian foreign trade company for nuclear services and is the Russian executive agent for the Megatons to Megawatts program.
CONTACT: USEC Inc., Bethesda
Charles Yulish, 301/564-3391
or
Elizabeth Stuckle, 301/564-3399
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