USEC Begins Construction on American Centrifuge Plant.BETHESDA, Md. -- 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 ) began construction today on its 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. uranium enrichment plant in Piketon, Ohio.
"This marks another important step toward deploying U.S. developed centrifuge technology to provide enriched uranium fuel for nuclear power plants," said John K. Welch, USEC president and chief executive officer. The U.S. Nuclear Regulatory Commission Nuclear Regulatory Commission (NRC), an independent U.S. government commission, created by the Energy Reorganization Act of 1974 and charged with licensing and regulating civilian use of nuclear energy to protect the public and the environment. granted USEC a construction and operating license for the American Centrifuge Plant in April. The start of construction represents one of the milestones in the agreement between the U.S. Department of Energy and USEC regarding the American Centrifuge program. The Company is working toward beginning commercial plant operations in late 2009 and having approximately 11,500 machines deployed in 2012, which would provide about 3.8 million separative work units (SWU SWU Srinakharinwirot University (Thailand) SWU Star Wars Universe SWU Southwestern University (Cebu City, Philippines) SWU Showa Women's University (Tokyo, Japan) ) of production based on current estimates of machine output and plant availability. USEC expects to operate a Lead Cascade of centrifuge machines in the American Centrifuge Demonstration Facility in Piketon in mid-2007. USEC Inc., a global energy company, is a leading supplier of enriched uranium fuel for commercial nuclear power plants. This news release contains forward-looking statements (within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995) that involve risks and uncertainty. For USEC, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include, but are not limited to: the success of the demonstration and deployment of our American Centrifuge technology, including our ability to meet our target cost estimate and schedule for the American Centrifuge plant and our ability to secure required external financial support; changes to, or termination of, our contracts with the U.S. government and changes in U.S. government priorities and the availability of government funding; the competitive environment for our products and services; and other risks and uncertainties discussed in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K and quarterly reports on Form 10-Q. We do not undertake to update our forward-looking statements except as required by law. |
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