April 20, 2014 6:19 PM ET


Company Overview of United States Enrichment Corporation

Company Overview

United States Enrichment Corporation operates a uranium enrichment facility producing enriched uranium for nuclear power plants. The company enriches uranium in a gaseous diffusion plant. The company is based in Bethesda, Maryland. United States Enrichment Corporation operates as a subsidiary of USEC Inc.

6903 Rockledge Drive

Fourth Floor

Bethesda, MD 20817

United States





Key Executives for United States Enrichment Corporation

Chief Financial Officer
Age: 69
Compensation as of Fiscal Year 2013.

United States Enrichment Corporation Key Developments

USEC Inc. and United States Enrichment Corporation Enters into First Amendment to the Fourth Amended and Restated Revolving Credit Agreement

On June 1, 2012, USEC Inc. and United States Enrichment Corporation, entered into a First Amendment to the Fourth Amended and Restated Revolving Credit Agreement with the lenders parties thereto and JPMorgan Chase Bank, N.A., as administrative and collateral agent. The Amendment amends the Fourth Amended and Restated Revolving Credit Agreement dated as of March 13, 2012 by and among USEC, United States Enrichment Corporation, the lenders parties thereto, JPMorgan Chase Bank, N.A., as administrative and collateral agent, and the revolving joint book managers, revolving joint lead arrangers and other agents parties thereto (the “Credit Agreement”). USEC requested the Amendment to permit continued near-term investment in the American Centrifuge project as it works to reach a definitive agreement with the U.S. Department of Energy (“DOE”) regarding a cost share research, development and demonstration (“RD&D”) program for the project to enhance the technical and financial readiness of the centrifuge technology for commercialization. USEC has begun work on the RD&D program and has been working with DOE and Congress to secure funding for the RD&D program. Under the terms of the existing credit facility, the Company was subject to significant limitations and restrictions on its ability to spend on the American Centrifuge project after May 31, 2012, which were tied to success in entering into a definitive agreement with DOE regarding the RD&D program. The Credit Agreement, as amended by the Amendment, provides that USEC can continue spending without project disruption for an additional 15 days as it works to reach a definitive agreement with DOE for the RD&D program.

United Steelworkers Applauds Agreement to Extend Uranium Enrichment Operations At the Paducah Gaseous Diffusion Plant for Additional Year

The United Steelworkers (USW) applauded an agreement between the Department of Energy (DOE), Energy Northwest, Bonneville Power Administration (BPA), the Tennessee Valley Authority (TVA) and U.S. Enrichment Corporation Inc. (USEC) to keep the Paducah Gaseous Diffusion Plant, which was slated for closure at the end of this month, open for an additional year. Under the agreement, the DOE will provide 9,000 metric tons of high-assay depleted uranium hexafluoride, also known as 'tails', to Energy Northwest. USEC, the contractor at the Paducah, Ky., facility, will enrich the tails to make 480 metric tons of low-enriched uranium. The Paducah Gaseous Diffusion Plant is the only U.S.-owned uranium-enrichment facility and, therefore, plays a critical role in nuclear security.

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