USEC says government prepared to extend centrifuge research program

|By:, SA News Editor

USEC (USU) says the Department of Energy is prepared to extend the American Centrifuge research program for three months beyond Jan. 15, sending shares +5.1% AH.

The Energy Department and the company would share the program's cost in an 80%/20% split, with total funding at ~$10M/month, USEC says.

On Monday, USEC said it plans to file for bankruptcy early next year, and added that a debt restructuring deal would help it continue the cooperative centrifuge research program.