BETHESDA, Md.--(BUSINESS WIRE)--April 21, 2008--USEC Inc. (NYSE: USU) is pleased that the U.S. Supreme Court has decided to accept the petitions for certiorari filed by USEC and the U.S. government requesting review of the March 2005 decision by the U.S. Court of Appeals for the Federal Circuit (Federal Circuit) in Eurodif S.A. v. United States. In that 2005 decision, the Federal Circuit held that imports of low enriched uranium under certain kinds of contracts are not subject to U.S. trade law.
The Solicitor General of the United States, along with the general counsels of U.S. Departments of Commerce, Defense, Energy and State, requested Supreme Court review of the Federal Circuit decision. The support and participation by the U.S. government highlights the national interests at stake in this case. The Supreme Court could render a decision in late 2008 or early 2009.
The risk of dumping of foreign-produced low enriched uranium imports continues to pose a significant threat to the U.S. enrichment industry, as well as the economic well being of its workers and the communities in which they live. The gap in the coverage of U.S. antidumping law created by the Federal Circuit decision undermines the ability of the U.S. government to prevent unfairly traded imports by excluding uranium imported under certain kinds of contracts from coverage under that law.
This gap in the coverage of the antidumping law could result in a significant increase in dumped imports of enriched uranium that could adversely affect the financing and deployment of USEC's American Centrifuge Plant in Piketon, Ohio, and other new enrichment plants that are being constructed or planned. It could also undermine the economics of USEC's existing gaseous diffusion plant in Paducah, Ky., and USEC's ability to fully implement the Megatons to Megawatts nonproliferation program with Russia.
USEC is hopeful that the Supreme Court will reverse the Federal Circuit's decision - an important step that will ensure the continued stability of the U.S. nuclear fuel market and the healthy future of the U.S. enrichment industry.
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
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Investors: Steven Wingfield (301) 564-3354
SOURCE: USEC Inc.