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As it announced earnings this week, Usec also offered an update on the demonstration program at the American Centrifuge uranium enrichment facility in Ohio. It remains on time and on budget, although the company's efforts to finance full build out of the plant remain ongoing. Last year the Department...

Last week Hitachi Zosen announced it would acquire nuclear technology provider NAC International from USEC in a deal valued at $45 million. Norcross, Ga.-based NAC engineers and sells equipment for storing and moving nuclear material. USEC, a Maryland-based uranium-enrichment company, has owned NAC since...

The Department of Energy has agreed to further funding for research at Usec’s American Centrifuge Project under a wide-ranging agreement that reorganizes its oversight and transfers assets to DOE. After the project failed to obtain a $2 billion DOE loan guarantee last year, short bouts of agency...

In the early hours of Friday morning, the House of Representatives passed a measure setting aside $150 million for the American Centrifuge Project in a defense programs bill. USA Today reported the legislation’s sponsors sidestepped anti-earmark rules by leaving the company unnamed in the bill...

USEC Inc. announced yesterday that they have entered into a multi-party arrangement with Energy Northwest, the Bonneville Power Administration (BPA), the Tennessee Valley Authority (TVA) and the U. S. Department of Energy (DOE) to extend uranium enrichment operations at the Paducah Gaseous Diffusion...

USEC announced that its American Centrifuge project for uranium enrichment has surpassed one million hours of machine run-time in its Lead Cascade test program, according to a Friday release. “One million hours of run-time is a testament to the robustness of this leading-edge technology and...

Congressional inaction on a highway bill may have temporarily tied up $106 million for research at the American Centrifuge Plant, but USEC said Friday it remains committed to the project. The Department of Energy had asked for the authority to transfer the money in language attached to a long-term transportation...

The USEC reported a year-end loss of $540.7 million or $4.48 per basic diluted share, according to a Wednesday release. The company reports the losses were largely due to write-offs associated with its American Centrifuge Project, expenses for which totaled $273.2 million, including $127.1 million of...

In the 2013 federal budget proposal released Monday, the Obama administration asked for a temporary reprieve for USEC’s American Centrifuge Project and left funding for the Department of Energy’s nuclear power branch largely unchanged from this year. Overall, DOE requested $27.2 billion from...

On Friday USEC announced a “path to provide interim funding” through March for research at the company’s American Centrifuge Plant as it continues to pursue government support for the uranium enrichment venture. USEC did not elaborate further, saying only that it had identified the...

USEC Inc. announced yesterday that discussions are ongoing between the Company, the U.S. Department of Energy (DOE) and Congress regarding the American Centrifuge project. The American Centrifuge project seeks to deploy an innovative technology developed by DOE and improved by USEC in recent years...

United States Enrichment Corp. has completed one of the final steps in transferring the 1950s-era Portsmouth Gaseous Diffusion Plant back to the Department of Energy. On Wednesday, the Nuclear Regulatory Commission announced it approved USEC’s plan for the last part of the transfer and the eventual...

USEC Inc. announced that it has entered into a standstill agreement with its strategic investors Toshiba Corporation (Toshiba), acting through its U.S. subsidiary Toshiba America Nuclear Energy Corporation, and Babcock & Wilcox Investment Company (B&W) to provide a limited additional period of...

On Tuesday USEC and Babcock & Wilcox announced they’ve set up a new company to handle spare parts and maintenance for USEC’s uranium enrichment plant under construction in Ohio. USEC and B & W subsidiary Babcock & Wilcox Technical Service Group formed American Centrifuge Manufacturing...

“Deployment of this innovative American technology will support thousands of U.S. manufacturing and operations jobs and will contribute to our energy security and national security at a pivotal time for our country.” said USEC President and CEO John K. Welch USEC Inc. announced today that...

Uranium enrichment firm USEC announced Wednesday it has entered a 10-year contract to purchase low-enriched uranium from Russian firm Techsnabexport (TENEX). The firms also plan to study the feasibility of building a new uranium enrichment plant in the U.S. using Russian technology. Through the...

Japan’s Nikkei Stock Average plunged 6.2 percent Monday and another 13 percent by midday Tuesday, and nuclear industry stocks worldwide took a big hit following earthquake-triggered emergencies at several reactors in Japan. Nuclear services and engineering firm Babcock and Wilcox lost 9...

As USEC Inc. reported its latest earnings Tuesday, the company also issued an update on efforts to acquire a loan guarantee for its American Centrifuge Plant in Piketon Ohio. A company earnings release was blunt about the plant’s prospects without Department of Energy support: “We expect...

"Re-enrichment would reduce DOE's decontamination and decommissioning costs while generating revenue for the federal government and maintaining 1,200 good, local jobs.” said Steve Penrod, Paducah plant general manager and USEC vice president. - Edited By Chris Reed - USEC Inc. announced...

Net income of $1.0 million for quarter on revenue of $565 million Net loss of $1.5 million for nine-month period on revenue of $1.37 billion Cash flow from operations of $30.0 million in nine-month period, cash on hand of $146.1 million at September 30, 2010 Company updates 2010 outlook for...

- Edited By Tom Lamar - USEC Inc. Vice President of American Centrifuge and Chief Engineer Paul Sullivan today updated the International Uranium Fuel Seminar on progress in the American Centrifuge Project. The three-day meeting, hosted by the Nuclear Energy Institute, examines the changing international...

- Edited By Chris Reed - USEC Inc. recently named Glenn Strausser as the new director of engineering, procurement and construction for the American Centrifuge Project. Strausser brings to the project a background in large-scale project and construction management. Strausser's duties will include...

"For more than 15 years, USEC and TENEX have cooperated in fueling America's nuclear reactors while reducing the threat of nuclear proliferation for the entire world," said John K. Welch, USEC president and chief executive officer. "Our bilateral efforts have made the world safer,...

"This investment is an important vote of confidence by two leaders in the nuclear power industry and will strengthen the deployment of the American Centrifuge Plant," said John K. Welch, USEC president and chief executive officer. - Edited By Tom Lamar - USEC Inc. today closed on the...

USEC Inc.has submitted a comprehensive update to its application with the U.S. Department of Energy (DOE) Loan Guarantee Program to help finance construction of the American Centrifuge Plant. The ACP is a more than "shovel-ready" project deploying innovative U.S. technology and U.S. manufacturing...