Bloomberg News

USEC, Supplier of Enriched Uranium Fuel, Surges Record 53%

October 14, 2011

Oct. 14 (Bloomberg) -- USEC Inc., the supplier of enriched uranium fuel for power plants that’s seeking a U.S. loan guarantee, climbed a record 53 percent.

The company, based in Bethesda, Maryland, closed at $2.04 in New York, the biggest gain since it started trading 13 years ago, according to Bloomberg data.

USEC said on Sept. 30 it was cutting spending and would begin layoffs if it doesn’t get the $2 billion loan guarantee it’s seeking from the U.S. Energy Department by the end of October to build a uranium-enrichment plant in Ohio.

“We have been meeting with DOE officials on a regular basis but there is no news and the process just continues,” Steve Wingfield, a company spokesman, said in a telephone interview today.

--Editors: Jasmina Kelemen, Tina Davis

To contact the reporters on this story: Edward Klump in Houston at eklump@bloomberg.net; Liezel Hill in Toronto at lhill30@bloomberg.net

To contact the editor responsible for this story: Susan Warren at susanwarren@bloomberg.net -0- Oct/14/2011 20:23 GMT


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