Centrus Signs Long-Term Supply Agreement with Orano
03 Maio 2018 - 7:45AM
Business Wire
Deal Expands and Diversifies Centrus’ Supply
Base to Support New Sales Opportunities
Centrus Energy Corp. (NYSE American: LEU) announced today that
it is expanding its supply arrangements with Orano Cycle (Orano), a
global nuclear fuel cycle company based in France, thereby further
diversifying and expanding Centrus’ enrichment supply base to
support its customers’ requirements. Under an agreement signed on
April 27, 2018, Orano will provide Centrus with a substantial
long-term supply of separative work units (SWU) beginning after
2020. The supply from Orano provides Centrus with access to over 6
million SWU through 2030, a quantity that is equivalent to more
than 50 reactor-years of nuclear fuel.
“This long-term supply agreement with Orano enhances our ability
to meet the needs of current and future customers and reflects our
commitment to be the most diversified global supplier of enriched
uranium,” said Daniel B. Poneman, president and chief executive
officer. “The added supply will help us compete for new sales
opportunities around the world so that we can continue to pursue
our long-term goal of re-establishing a domestic uranium enrichment
capability.”
“Through this long-term contract, Centrus and Orano reinforce
their strong relationship, with the goal of enhancing diversity and
security of supply for nuclear electricity producers,” said Antoine
Troesch, senior executive vice president, Chemistry and Enrichment
Business Unit, for Orano. “This contract shows the trust in Georges
Besse 2, our state-of-the-art enrichment facility in Tricastin,
France.”
The long-term agreement provides for deliveries from 2023
through 2028, with options for 2029 and 2030. Centrus has
significant flexibility to adjust its purchase quantities as needed
to meet its sales and delivery requirements subject to certain
minimum purchase obligations.
The supply from Orano will enable Centrus to add new sales to
its long-term order book, which stood at $1.3 billion as of
December 31, 2017, and extends for more than a decade.
Centrus’ diverse base of supply now includes Orano and Joint
Stock Company TENEX, along with its existing inventory and other
sources of supply around the world.
About Centrus Energy
Centrus is a trusted supplier of nuclear fuel and services for
the nuclear power industry. Centrus provides value to its utility
customers through the reliability and diversity of its supply
sources - helping them meet the growing need for clean, affordable,
carbon-free electricity. Since 1998, the Company has provided its
utility customers with more than 1,750 reactor years of fuel, which
is equivalent to 7 billion tons of coal.
With world-class technical capabilities, Centrus offers turnkey
engineering and advanced manufacturing solutions to its customers.
The company is also advancing the next generation of centrifuge
technologies so that America can restore its domestic uranium
enrichment capability in the future. Find out more at
www.centrusenergy.com.
Forward-Looking Statements
This news release contains “forward-looking statements” within
the meaning of Section 21E of the Securities Exchange Act of 1934 -
that is, statements related to future events. In this context,
forward-looking statements may address our expected future business
and financial performance, and often contain words such as
“expects”, “anticipates”, “intends”, “plans”, “believes”, “will”,
“should”, “could”, “would” or “may” and other words of similar
meaning. Forward-looking statements by their nature address matters
that are, to different degrees, uncertain. For Centrus Energy
Corp., particular risks and uncertainties that could cause our
actual future results to differ materially from those expressed in
our forward-looking statements include risks: the continued impact
of the March 2011 earthquake and tsunami in Japan on the nuclear
industry and on our business, results of operations and prospects;
the impact and potential extended duration of the current
supply/demand imbalance in the market for low enriched uranium
(“LEU”); our dependence on others for deliveries of LEU including
deliveries from the Russian government entity Joint Stock Company
“TENEX” (“TENEX”) under a commercial supply agreement with TENEX
(the “Russian Supply Agreement”); risks related to our ability to
sell the LEU we procure pursuant to our purchase obligations under
our supply agreements, including the Russian Supply Agreement;
risks relating to our sales order book, including uncertainty
concerning customer actions under current contracts and in future
contracting due to market conditions and lack of current production
capability; risks related to financial difficulties experienced by
customers, including possible bankruptcies, insolvencies or any
other inability to pay for our products or services; pricing trends
and demand in the uranium and enrichment markets and their impact
on our profitability; movement and timing of customer orders; risks
associated with our reliance on third-party suppliers to provide
essential services to us; risks related to trade barriers and
contract terms that limit our ability to deliver LEU to customers;
risks related to actions that may be taken by the U.S. government,
the Russian government or other governments that could affect our
ability or the ability of our sources of supply to perform under
their contract obligations to us, including the imposition of
sanctions, restrictions or other requirements; the impact of
government regulation including by the U.S. Department of Energy
and the U.S. Nuclear Regulatory Commission; the outcome of legal
proceedings and other contingencies (including lawsuits and
government investigations or audits); the competitive environment
for our products and services; changes in the nuclear energy
industry; the impact of financial market conditions on our
business, liquidity, prospects, pension assets and insurance
facilities; revenue and operating results can fluctuate
significantly from quarter to quarter, and in some cases, year to
year; and other risks and uncertainties discussed in this and our
other filings with the Securities and Exchange Commission,
including our Annual Report on Form 10-K for the year ended
December 31, 2017. We do not undertake to update our
forward-looking statements except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20180503005699/en/
Centrus Energy Corp.Media: Jeremy Derryberry,
301-564-3392Investors: Don Hatcher, 301-564-3460
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