USEC Inc. (USU) to Halt Enrichment at Paducah Plant, Cut Workforce
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USEC Inc. (NYSE: USU) announced today that it had not been able to conclude a deal for the short-term extension of uranium enrichment at the Paducah Gaseous Diffusion Plant in Kentucky, and the company will begin ceasing uranium enrichment at the end of May. The Paducah plant is the only U.S.-owned and operated uranium enrichment facility in the United States. USEC leases the plant from the U.S. Department of Energy (DOE).
USEC will take steps to cease enrichment at the Paducah plant over the next month and to prepare the plant site for return to DOE. USEC expects to continue operations at the site into 2014 in order to manage inventory, continue to meet customer orders and to meet the turnover requirements of its lease with DOE.
USEC expects to begin reducing its workforce at the plant in the coming months. The Company will begin notifying workers as the specifics of the transition activities are defined. USEC anticipates maintaining a workforce at the site into next year to support ongoing operations, perform transition activities and meet regulatory requirements.
USEC will take steps to cease enrichment at the Paducah plant over the next month and to prepare the plant site for return to DOE. USEC expects to continue operations at the site into 2014 in order to manage inventory, continue to meet customer orders and to meet the turnover requirements of its lease with DOE.
USEC expects to begin reducing its workforce at the plant in the coming months. The Company will begin notifying workers as the specifics of the transition activities are defined. USEC anticipates maintaining a workforce at the site into next year to support ongoing operations, perform transition activities and meet regulatory requirements.
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