USEC / USU
American Centrifuge machines operating in the Lead Cascade test program at USEC’s Piketon, Ohio, demonstration facility. (Photo: Courtesy of company.)
About USEC
6903 Rockledge Dr., Bethesda, Md. 20817
www.usec.com
| 301-564-3200
| Founded: 1998
Industry: Energy | Category: Public Companies
USEC operates a uranium enrichment plant in Kentucky and supplies low enriched uranium to commercial nuclear plants. Half its raw material comes from decommissioned Russian nuclear warheads under a 1993 agreement known as Megatons to Megawatts, which expires in 2013. Profit margins have been squeezed by the rising cost of electricity needed to run the enrichment plant. USEC is building a $3.5 billion centrifuge plant in Ohio, which it says will be more efficient.
Chairman: James R. Mellor
2007 Financial Data
Revenues: $1,928,000,000 | Net Income: $96,600,000Asssets: $3,087,800,000 | Earnings Per Share: $0.94
Stockholder Equity: $1,309,500,000 | Annual Dividend: $0.00
Total employees: 2,866 | Local employees: 90
Company Leadership
| Michael H. Armacost | Director |
| Joyce F. Brown | Director |
| Joseph T. Doyle | Director |
| H. William Habermeyer | Director |
| John R. Hall | Director |
| William J. Madia | Director |
| James R. Mellor | Chairman |
| W. Henson Moore | Director |
| Joseph F. Paquette | Director |
| John K. Welch | Chief Executive Officer, President and Director |
| John K. Welch | President and Chief Executive Officer |
Source: Compensation data provided by Equilar, Inc..
| John K. Welch President and Chief Executive Officer | $3,746,748 Salary: $828,462 |
Did You Know
MEGACOST: Struggling with ballooning cost estimates for its new plant, the company is seeking federal subsidies in the form of loan guarantees. It is also asking the government to limit imports of enriched nuclear fuel from Russia.
