- Lead Cascade testing program of commercial AC100 centrifuges providing technology assurance as machine run time increases
- Growing number of nuclear reactors under construction globally provide solid business case for additional uranium enrichment capacity
- Board of Directors reelected by shareholders
BETHESDA, Md., Apr 29, 2010 (BUSINESS WIRE) --USEC Inc. (NYSE:USU) today reported to its shareholders on the significant progress since last summer in demonstrating the American Centrifuge technology. The annual meeting of USEC Inc. shareholders was held this morning.
John Welch, USEC president and chief executive officer, said the approximately two dozen AC100 centrifuge machines currently in the Lead Cascade testing program have operated well since the machines went into the commercial cascade configuration in March. "This is an important event for the program and our efforts to address DOE's concerns because these are production-ready machines."
"Our immediate objective is to accumulate significant cascade run-time while we continue to manufacture and install additional AC100 machines," he said.
Welch also noted that the prospects for the nuclear power industry are improving as 57 reactors are currently under construction worldwide.
To read a copy of Welch's complete remarks to shareholders, please go to Speeches in the Newsroom section of the Company's website, www.usec.com.
During the meeting, shareholders voted to reelect nine directors for a one-year term. Director Joseph F. Paquette, Jr. retired from the Board and did not stand for reelection. On behalf of the Board and shareholders, Chairman James R. Mellor thanked Paquette for his service and counsel to the Board since 2001. Shareholders also ratified the appointment of the Company's independent auditors, PricewaterhouseCoopers LLP.
USEC Inc., a global energy company, is a leading supplier of enriched uranium fuel for commercial nuclear power plants.
SOURCE: USEC Inc.
USEC Inc.
Investors: Steven Wingfield, 301-564-3354
Media: Jeff Donald, 301-564-3418