DOE Terminates Funding for Contamination Cleanup Project; Funding Reduction Results in Loss of Approximately 116 USEC Jobs at Ohio Plant.Business Editors BETHESDA, Md.--(BUSINESS WIRE)--July 28, 2003 The U.S. Department of Energy (DOE) has informed USEC USEC Microsecond USEC United States Enrichment Corporation USEC United States East Coast USEC Unity Security Force (gaming) USEC Universal Services Echo Canceller USEC Umts Security USEC User Based Security Model Inc. (NYSE NYSE See: New York Stock Exchange :USU USU Usually USU Utah State University (Logan, UT) USU Uniformed Services University USU Ural State University (Ekatherinburg, Russia) USU Universidade Santa Úrsula ) that funding for the Deposit Removal Program at the Portsmouth, Ohio Plant will not be extended after September 30, 2003. The loss of this funding from DOE will result in the termination of approximately 116 USEC plant personnel working under a DOE contract effective October 3. The Deposit Removal Program uses a chemical process to reduce uranium compounds remaining in cells, piping and auxiliary equipment that are no longer operating. The process recovers uranium and supports nuclear security objectives. As contractor to DOE, USEC will complete the first phase of the Deposit Removal Program in September 2003, covering approximately 40 percent of the facility. USEC believes that continuing the Deposit Removal Program is important to a successful transition to decontamination decontamination /de·con·tam·i·na·tion/ (de?kon-tam-i-na´shun) the freeing of a person or object of some contaminating substance, e.g., war gas, radioactive material, etc. de·con·tam·i·na·tion n. and decommissioning Decommissioning is a general term for a formal process to remove something from operational status. Some specific instances include:
Because DOE has informed USEC of the discontinuation of funding, it is necessary to notify employees and begin the selection process now in order to provide for an orderly and safe transition during the employee reduction and to comply with collective bargaining agreements The contractual agreement between an employer and a Labor Union that governs wages, hours, and working conditions for employees and which can be enforced against both the employer and the union for failure to comply with its terms. . If funding remains unavailable, then USEC's share of severance costs for terminated employees will be reflected as a charge to net income later this year. This program has a minimal impact on USEC's government contracting income. Other programs, such as cleaning up contaminated natural uranium, site preparation for the American Centrifuge centrifuge (sĕn`trəfy  j), device using centrifugal force to separate two or more substances of different density, e.g., two liquids or a liquid and a solid. Demonstration Facility, and the Cold Standby Program are expected to be funded by DOE for the coming fiscal year. USEC Inc., a global energy company, is the world's leading supplier of enriched uranium fuel for commercial nuclear power plants. |
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