The board of directors for Centrus Energy elected Mikel H. Williams as its chairman during its organizational meeting today. Williams had served on the Company’s previous board of directors. The Company’s current president and chief executive officer, John K. Welch, 64, will step down on October 17, 2014, and the board has begun the process of [...]
Centrus Energy today announced that it has satisfied all conditions for emergence from Chapter 11 bankruptcy as set forth in its Plan of Reorganization that was approved by the U.S. Bankruptcy Court for the District of Delaware on September 5, 2014. The Plan becomes effective today, and Centrus, formerly known as USEC emerges from restructuring in [...]
USEC today announced that it expects to complete the final steps necessary to emerge from its Chapter 11 restructuring on September 30, 2014, under the name Centrus Energy Corp. The Company’s new common stock shares are expected to begin trading on the New York Stock Exchange under the ticker symbol “LEU” on that date. The Company’s Plan of [...]
USEC today announced that the U.S. Bankruptcy Court for the District of Delaware has confirmed the Company’s Plan of Reorganization and that it will emerge from Chapter 11 restructuring under the name Centrus Energy Corp. when the Plan becomes effective later in September. The confirmation of the Plan of Reorganization is the last major court step [...]
Investors holding USEC convertible notes overwhelmingly voted in favor of the Company’s Plan of Reorganization during a month-long voting period that ended August 11. The results of the voting by noteholders were certified by the court-appointed balloting agent to the U.S. Bankruptcy Court for the District of Delaware today. USEC filed a voluntary [...]
USEC made the following statement: In view of the unusual market activity in the company’s stock today, the New York Stock Exchange contacted the company in accordance with its usual practice. The company stated that its policy is not to comment on unusual market activity. USEC, a global energy company, is a leading supplier of enriched uranium [...]
USEC Inc. (NYSE:USU) today reported a net loss of $28.0 million for the quarter ended June 30, 2014, compared to a net loss of $40.9 million for the second quarter of 2013. For the six months ended June 30, 2014, USEC reported a loss of $78.8 million compared to $42.9 million in the same period of 2013. The financial results for the second [...]
USEC Inc. (NYSE: USU) today named Steven R. Penrod, 57, vice president of the American Centrifuge program (ACP), succeeding Paul E. Sullivan, 62, who leaves the post to become director of the Applied Research Laboratory at the Pennsylvania State University, effective September 1. Penrod currently serves as USEC vice president of enrichment [...]
USEC Inc. (NYSE:USU) announced that it will soon begin soliciting holders of USEC’s convertible notes as well as its two preferred stockholders for votes on the Company’s Plan of Reorganization following today’s hearing and order by Judge Christopher S. Sontchi in the United States Bankruptcy Court for the District of Delaware. USEC filed the [...]
USEC Inc. (NYSE:USU) made the following statement: In view of the unusual market activity in the company’s stock today, the New York Stock Exchange contacted the company in accordance with its usual practice. The company stated that its policy is not to comment on unusual market activity. USEC Inc., a global energy company, is a leading supplier [...]
USEC Inc. (NYSE:USU) today reported a net loss of $50.8 million for the quarter ended March 31, 2014, compared to a net loss of $2.0 million for the first quarter of 2013. The financial results for the first quarter of 2014 reflect a reduction in separative work unit (SWU) revenue compared to the same period in 2013 following the cessation of [...]
USEC Inc. (NYSE:USU) and the U.S. Department of Energy (DOE) have agreed to extend the research, development and demonstration (RD&D) program for the American Centrifuge uranium enrichment technology through April 30 at no additional cost to the U.S. government as discussions continue between USEC and the DOE’s Oak Ridge National Laboratory (ORNL [...]
