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BETHESDA, Md. - William H. Timbers, Jr., President and Chief Executive Officer of USEC Inc., the world leader in uranium enrichment services, announced today the formation of a Strategic Advisory Council. "The Council," he said, "will advise the Corporation on matters relating to USEC’s role in national security activities, trends in the nuclear and electric power industry and market, and advanced technologies. We are confident that this outstanding group of authorities will provide independent counsel and perspective on matters of considerable importance to the future of the Corporation."
The members of USEC’s Strategic Advisory Council (SAC) include:
Dr. John M. Deutch, SAC Chairman
Dr. Graham Allison, JFK School of Government, Harvard University
Dr. William Happer, Department of Physics, Princeton University
Dr. Richard Lester, Director, Industrial Performance Center, MIT
Admiral William Owens, (Ret.) CEO, Teledesic
Mr. Joseph Paquette, former Chairman of PECO Energy Company
Dr. James R. Schlesinger, Senior Advisor, Lehman Brothers
In the national security area, USEC is the Executive Agent for the U.S. government, responsible for implementing the historic "Megatons to Megawatts" government-to-government agreement. Through a 1994 commercial implementing contract with USEC, Russia is converting into reactor fuel highly enriched uranium from its dismantled nuclear weapons. The fuel is then purchased by USEC and sold to its electric utility customers for use in their commercial nuclear electric generating facilities. This Megatons to Megawatts program has begun its fifth year of operation and demonstrates the need for integration of government national security objectives with USEC's business operations.
In the advanced technologies area, USEC is the leading supplier of uranium enrichment services in a competitive international market and is developing a next-generation laser enrichment technology. Developments in the nuclear industry, in market dynamics and in advanced technologies represent important factors in USEC’s business development.
USEC Inc. (NYSE: USU) is the world leader in production and sale of uranium fuel enrichment services for commercial nuclear power plants. A global energy company with customers in 14 countries, the Company’s operations involve approximately 5,000 people. With headquarters in Bethesda, Maryland, the Company manages production plants in Kentucky and Ohio and is developing an advanced laser enrichment technology in California.
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