Centrus and TENEX Agree on Decade of Reliable Supply
BETHESDA, Md.--(BUSINESS WIRE)--Dec. 22, 2015--
Centrus Energy Corp. (NYSE MKT: LEU) announced today that it has reached
agreement with TENEX to modify the terms of the long-term supply
contract the two companies signed in 2011 and to extend their
contractual relationship through 2026.
“Completing this contract revision has been a central priority since the
day I arrived at Centrus,” said President and Chief Executive Office Daniel
B. Poneman. “The updated agreement reflects the changing fuel market
and extends our supply arrangement for a decade, further strengthening
the partnership between our two companies – a partnership that has
played an indispensable role in U.S.-Russia nuclear cooperation for more
than two decades.”
TENEX General Director, Lyudmila Zalimskaya said, “We highly value
cooperation with our long-standing partner, Centrus, and have
strengthened our long-term relations with this arrangement.”
The amendment extends the contract to 2026, under terms that reflect the
reduction in global enrichment demand since 2011. While reaffirming the
original commitment to purchase 17 million SWU from 2016 to 2022, the
revised agreement permits some quantities to be deferred for delivery
until 2023 to 2026, along with additional quantities to be purchased in
those years.
The amendment ensures that TENEX and Centrus will continue to have an
important framework from which the firms will cooperate and upon which
they will expand their existing relationship.
About Centrus Energy Corp.
Centrus Energy Corp. is a trusted supplier of enriched uranium fuel for
commercial nuclear power plants in the United States and around the
world. Our mission is to provide reliable and competitive fuel goods and
services to meet the needs of our customers, consistent with the highest
levels of integrity, safety, and security.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151222005393/en/
Source: Centrus Energy Corp.
Centrus Energy Corp.
Media:
Jeremy Derryberry, 301-564-3392
or
Investors:
Don
Hatcher, 301-564-3460
