BETHESDA, Md.--(BUSINESS WIRE)--April 23, 2001--USEC Inc. (NYSE:USU) announced today that it has signed an exclusive licensing agreement with the Columbiana Boiler Company (CBC) for the manufacture and worldwide marketing of the MED 2000 overpack - a USEC-designed, U.S. government-certified protective packaging for transporting sample cylinders of uranium hexafluoride (UF6).
"The MED 2000 is the first and only package that fully complies with the International Atomic Energy Agency's new requirements for UF6 shipments," said Dr. M. Elizabeth Darrough, USEC Director of Transportation Programs. Dr. Darrough led USEC's effort to develop the MED 2000 in response to recent changes in IAEA regulations for the transport of radioactive material.
CBC is currently producing the MED 2000 for USEC's operations, including the Megatons to Megawatts nonproliferation program with Russia.
As part of the licensing agreement, CBC will be responsible for the production and sale of the MED 2000 on a worldwide basis. USEC will receive a license fee from CBC for each sale. All production will take place at CBC's facilities in Columbiana, Ohio.
USEC successfully tested a prototype of the MED 2000 last year, proving that the package meets the latest IAEA transport regulations (TS-R-1). The U.S. Department of Transportation approved the Safety Analysis Report and certified the package for international use on January 19, 2001. CBC participated in the development phase as the prototype manufacturer.
The MED 2000 is currently approved for use with American National Standards Institute N14.1-certified 1S sample cylinders. CBC Senior Vice President Trevor Rummel said, "CBC will adapt the MED 2000 for use with other types of sample cylinders to accommodate the needs of European and Asian customers."
USEC Inc., a global energy company, is the world's leading supplier of enriched uranium fuel for commercial nuclear power plants.
CBC and its Hi Tech subsidiary are leading manufacturers of fuel cycle packaging, including products for UF6, uranium dioxide, fuel assembly packages, as well as spent fuel dry storage canisters and related equipment.
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| CONTACT: | USEC Inc., Bethesda |
|---|---|
| Elizabeth Stuckle, 301/564-3399 | |
| M. Elizabeth Darrough, 301/564-3422 | |
| or | |
| CBC | |
| Trevor Rummel, 330/482-3373 | |
| Jennifer Jones, 330/482-3373 | |