USEC Waiting On Federal Government Before Issuing Layoffs

By
Associated Press

Dateline
Updated Wed, Nov 2, 2011 7:42 am

The developer of a uranium enrichment project in southern Ohio is willing to wait before laying off about 450 workers in Ohio, Tennessee and Maryland.

They had been notified they could lose their jobs on the project this month. But Bethesda, Md.-based USEC Inc. said this week it will take things day-to-day as discussions continue with federal officials, who have been hesitant to grant a $2 billion loan
guarantee.

The company also says two key investors have agreed to sit tight until mid-January.

The U.S. Department of Energy is currently working with USEC on research and development to reduce technical and financial risks holding up the loan guarantee application.

The planned American Centrifuge Plant in Piketon would produce enriched uranium for use in generating electricity at nuclear power plants.
 

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