BETHESDA, Md.--(BUSINESS WIRE)--May 31, 2007--USEC Inc. (NYSE:USU) began construction today on its American Centrifuge uranium enrichment plant in Piketon, Ohio.
"This marks another important step toward deploying U.S. developed centrifuge technology to provide enriched uranium fuel for nuclear power plants," said John K. Welch, USEC president and chief executive officer.
The U.S. Nuclear Regulatory Commission granted USEC a construction and operating license for the American Centrifuge Plant in April. The start of construction represents one of the milestones in the agreement between the U.S. Department of Energy and USEC regarding the American Centrifuge program.
The Company is working toward beginning commercial plant operations in late 2009 and having approximately 11,500 machines deployed in 2012, which would provide about 3.8 million separative work units (SWU) of production based on current estimates of machine output and plant availability.
USEC expects to operate a Lead Cascade of centrifuge machines in the American Centrifuge Demonstration Facility in Piketon in mid-2007.
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. For USEC, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include, but are not limited to: the success of the demonstration and deployment of our American Centrifuge technology, including our ability to meet our target cost estimate and schedule for the American Centrifuge plant and our ability to secure required external financial support; changes to, or termination of, our contracts with the U.S. government and changes in U.S. government priorities and the availability of government funding; the competitive environment for our products and services; and other risks and uncertainties discussed in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K and quarterly reports on Form 10-Q. We do not undertake to update our forward-looking statements except as required by law.
CONTACT: USEC Inc.
Media:
Elizabeth Stuckle, 301-564-3399
or
Investors:
Steven Wingfield, 301-564-3354
SOURCE: USEC Inc.