“Throughout 2011, USEC worked diligently to overcome a number of significant challenges facing the Company,” said John K. Welch, USEC president and chief executive officer. “Despite the lack of a conditional commitment for a loan guarantee, DOE’s proposal to share costs in a two-year research, development and demonstration program reflects the importance the U.S. government places on having a source of domestic uranium enrichment.”Welch said, “This year will present additional challenges as we continue operating under significant competitive and cost pressures, and we make important decisions regarding the future of the Paducah plant. Nonetheless, we expect to sell more than 10 million SWU in 2012. These sales will come from our substantial inventory, from Paducah commercial production through at least midyear, and from our supply contract with Russia.
USEC Reports Financial Results For The Fourth Quarter And Full Year 2011
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