USEC will become Centrus Energy Corp.

usecmegawatts1If the USEC Inc. reorganization plan is approved in U.S. Bankruptcy Court in Delaware, the company will emerge from Chapter 11 bankruptcy with a new name: Centrus Energy Corp.

The proposed name change was included in a supplement to the reorganization plan that was submitted to the court Aug. 4.

“Pursuant to Section 5.1of the Plan, the Debtor hereby gives notice that it desires to change its name, as of the Effective Date of the Plan, from USEC Inc. to Centrus Energy Corp,” the document states. “The proposed name is acceptable to the Majority Consenting Noteholders, as required by the terms of Section 5.1 of the Plan.

“The name change will be implemented following confirmation of the Plan, assuming approval of the name change as part of the Confirmation Order entered by the Bankruptcy Court, through the filing of an amendment to the existing certificate of incorporation of USEC Inc. to be made on or before the Effective Date.

“Pending implementation of the name change, USEC Inc. will continue to be known as USEC Inc.,” the document states.

In an email message earlier today, USEC communications chief Paul Jacobson said, “This change will signal the beginning of a new era for the reorganization company. However, until we emerge from the Chapter 11 process, we will continue to be USEC Inc.”

Once the reorganization plan is confirmed by the court, more details will be provided on the new name, Jacobson said.

Other parts of the company, such as the American Centrifuge Project, will reportedly keep their same names legally after the reorganization.

A confirmation hearing on the plan is scheduled for Sept. 5.

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Senior Writer Frank Munger covers the Dept. of Energy's Oak Ridge facilities and many related topics — nuclear weapons, nuclear waste and other things nuclear, environmental cleanup and science of all sorts. Atomic City Underground is, first and foremost, a news blog, but there's room for analysis, opinion and random thoughts that have no place else to go.