USEC Reports to Shareholders on American Centrifuge Progress

USEC Inc.  reports today to its shareholders on the significant progress since last summer in demonstrating the American Centrifuge technology.

 The annual meeting of USEC Inc. shareholders was held this morning.

During the meeting, shareholders voted to reelect nine directors for a one-year term. Director Joseph F. Paquette, Jr. retired from the Board and did not stand for reelection. On behalf of the Board and shareholders, Chairman James R. Mellor thanked Paquette for his service and counsel to the Board since 2001. Shareholders also ratified the appointment of the Company’s independent auditors, PricewaterhouseCoopers LLP.

John Welch, USEC President & CEO says:

the approximately two dozen AC100 centrifuge machines currently in the Lead Cascade testing program have operated well since the machines went into the commercial cascade configuration in March. “This is an important event for the program and our efforts to address DOE’s concerns because these are production-ready machines.”

For complete news release, click here.