BETHESDA, Md., Sep 13, 2005 (BUSINESS WIRE) -- The U.S. Court of Appeals for the Federal Circuit has decided not to reconsider its decision on a key issue in the trade case involving low-enriched uranium imports (LEU) from France. Last Friday, the court reaffirmed its March 2005 ruling that enrichment contracts are exempt from antidumping and countervailing duty laws.
Although USEC is disappointed by the court's decision, we believe the U.S. government's trade investigation has helped improve prices and return stability to the enrichment market in recent years. The investigation also showed unequivocally that Eurodif dumped LEU in the United States and received a subsidy through its domestic LEU sales, injuring a critical domestic industry.
Looking ahead, we expect that market participants will continue to focus on reliable production and a transition to new production capacity. USEC remains committed to a strong fuel market and to the deployment of its next-generation American Centrifuge technology.
This decision has no immediate impact on the government's collection of countervailing and antidumping duty deposits on LEU imports from France. Collection of duties will continue pending resolution of other issues now to be addressed by the lower U.S. Court of International Trade (CIT). The CIT had suspended its consideration of several appeals of the U.S. government's initial rulings on European LEU imports to await the outcome of this appeal.
USEC Inc. (NYSE:USU), a global energy company, is the world's leading supplier of enriched uranium fuel for commercial nuclear power plants.
SOURCE: USEC Inc.
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