USEC hedges bets on privatisation

1 February 1998

The US Enrichment Corp board of directs are initiating a dual-path approach for the privatisation of the company. Under this process, USEC will simultaneously pursue a possible merger and acquisition transaction with a third party and also an initial public offering (IPO) of common stock. If all the statutory criteria for USEC’s privatisation are met, the path that best meets the criteria will be selected by the boards as the method for final sale of the corporation.

AVLIS tests completed

USEC completed a series of tests for its laser-based enrichment project, AVLIS (Atomic Vapour Laser Isotope Separation).

The 400 h of test operation at the Lawrence Livermore National Laboratory of the integrated laser and separator systems approached the levels necessary for commercial plant operation. According to Bill Bennet, USEC’s vp of advanced technology, after two years of testing, the system is ready to verify the enrichment performance and reliability levels that will make a future AVLIS plant economically viable. Completion of licensing the process is expected by 2001 and plant construction and startup by 2005.

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