Fluor Corp. (FLR) JV Receives $318M DOE Contract to Operate the Depleted Uranium Hexafluoride Conversion Facilities
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Fluor Corporation (NYSE: FLR) announced today that the U.S. Department of Energy (DOE) selected Mid-America Conversion Services, LLC (MCS), a joint venture comprised of Atkins, Fluor and Westinghouse, to operate the depleted uranium hexafluoride (DUF6) conversion facilities at DOE’s Paducah Gaseous Diffusion Plant in Paducah, Kentucky, and the Portsmouth Gaseous Diffusion Plant in Piketon, Ohio. The contract is valued at $318 million for the joint venture over a five-year period of performance beginning in 2016. Work will begin in the first quarter of 2017.
The project includes the operation of DUF6 conversion facilities for the purpose of processing DOE’s inventory of stored DUF6, a co-product of the uranium enrichment process. The facilities convert DUF6 to depleted uranium oxide for possible future reuse, storage or disposal. A co-product of the conversion process is hydrofluoric acid, which can be reused in industrial processes.
“We are excited that DOE has selected Fluor and the MCS team to operate the depleted hexafluoride conversion facilities,” said Bruce Stanski, president of Fluor’s Government Group. “As the prime contractor at DOE’s Paducah and Portsmouth sites, Fluor has tremendous experience and insight at both DUF6 plant locations, their stakeholders and the business needs that will be helpful in making the DUF6 project successful. We’re looking forward to continuing our work with the sites’ employees, the communities in which we work, and to supporting the safe cleanup of the facilities.”
Mid-America Conversion Services, LLC, is a fully integrated team, which will operate the two DUF6 conversion facilities to continue the conversion of the DOE’s inventory of approximately 765,000 metric tons of depleted uranium hexafluoride to depleted uranium oxide. The team of leading nuclear industry experts will also broker the sale of the aqueous hydrofluoric acid product and provide surveillance and maintenance services for the DUF6 cylinder inventory.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Digital Ally (DGLY) Refutes TASER's Attack on ‘292 Patent; Says Nothing New Here
- GlaxoSmithKline (GSK) Announces Filing Regulatory Submission with EMA for FF/UMEC/VI as COPD Treatment
- B&G Foods (BGS) Acquires Victoria Fine Foods for $70M
Create E-mail Alert Related CategoriesCorporate News, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!