BETHESDA, Md.--(BUSINESS WIRE)--Oct. 11, 2006--USEC Inc. (NYSE:USU) has signed a contract valued at more than $200 million with Taiwan Power Company to supply enriched uranium fuel to the utility's eight nuclear power reactors. The new contract to supply the Taipei-based utility with enriched uranium fuel runs from 2009 through 2013.
"This new contract enhances USEC's longstanding relationship with Taipower and underscores our commitment to provide utilities with a reliable, competitive source of enriched uranium fuel for years to come," said John M.A. Donelson, USEC vice president, marketing and sales. "This strong commercial agreement is also a great example of the industry's support for USEC's next generation American Centrifuge uranium enrichment plant to be built in Piketon, Ohio."
USEC is in the process of demonstrating and deploying the American Centrifuge, which will replace its existing gaseous diffusion technology and is expected to be the world's most efficient uranium enrichment technology. The American Centrifuge Plant will use modular architecture that allows capacity to be added, thus allowing USEC to meet the growing demand for nuclear fuel. Enrichment is the process by which the concentration of the fissionable uranium isotope is increased in order to make fuel for 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. Economic, business, market, regulatory, technology and other factors could cause USEC's actual future results to differ materially from those expressed in our forward-looking statements. More information about these factors is contained in USEC's filings with the Securities and Exchange Commission, including USEC's annual report on Form 10-K and quarterly reports on Form 10-Q, which are available on USEC's website www.usec.com. USEC does not undertake to update its forward-looking statements except as required by law.
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
Investors: Steven Wingfield, 301-564-3354
SOURCE: USEC Inc.