Centrus Energy Corp. has named Larry B. Cutlip as vice president for field operations, effective May 23. He will oversee the company’s activities in Oak Ridge, Ohio and Kentucky. Cutlip will assume the duties of Steven Penrod, vice president for American Centrifuge, who’s leaving the company at the end of June. Cutlip will also retain his role as president of American Centrifuge Manufacturing, a wholly owned subsidiary. He’ll be based in Oak Ridge, where the centrifuge research activities are taking place.
There still aren’t a lot of details about the hiring campaign at Consolidated Nuclear Security, the government’s managing contractor at the Y-12 and Pantex nuclear weapons plants, but CNS today released some additional information.
At this point, it appears that most of the hiring taking place at Y-12 involves salaried positions, weekly and monthly paid, and Y-12 is seeking employees who already have “L” or “Q” clearances with the Department of Energy or a Department of Defense security clearance. Continue reading →
Centrus Energy Corp. announced last week that it had completed operations at its American Centrifuge demonstration unit at Piketon, Ohio, and would demobilize the enrichment cascade and start the decommissioning of the facility. As part of what Centrus President Dan Poneman called a “painful” announcement, the company said it plans to reduce its workforce at the Ohio site, with about 60 layoffs at the end of the month.
Centrus, however, said it would continue its research and development and test operations in Oak Ridge, where about 120 people are employed on the American Centrifuge project. The Department of Energy is funding work — via Oak Ridge National Laboratory — to enhance the uranium-enrichment technology for possible future use as a domestic supply of nuclear fuel. Continue reading →
Centrus Energy Corp., which is developing centrifuge technology for future use in enriching uranium for nucelar fuel, has established an advisory board and named five members with backgrounds in business and national security. Here’s the company’s news release on the new board.
There have been multiple reports about potential cutbacks in the Centrus Energy workforce in Oak Ridge, as the Department of Energy pulls back its funding for American Centrifuge. Even before the funding cuts came into focus, Centrus had sent notices to 145 workers in Oak Ridge warning of possible layoffs and even more to employees in Ohio. Since then, DOE has indicated the future emphasis on centrifuge will be on research and testing work done in Oak Ridge, making the Ohio base apparently the most vulnerable. Centrus is managing the American Centrifuge effort under a subcontract to DOE’s Oak Ridge National Laboratory contractor UT-Battelle.
Asked if he could clarify how many jobs, if any, will actually be cut in the Centrus workforce in Oak Ridge, company spokesman Jeremy Derryberry last month provided this statement: Continue reading →
The Government Accountability Office today released a 60-page report that outlines the “long and complex” relationship between the Department of Energy and USEC Inc. (now Centrus Energy) since 1998. It details the 23 transactions that have taken place between DOE and the privatized company that took over uranium-enrichment activities in the United States. Those transactions include the three that helped establish USEC as a private company in its early years by transferring enriched uranium and giving the company its initial market value. Continue reading →
The decision by the Department of Energy to reduce funding for the American Centrifuge project and emphasize the development work under way at Oak Ridge (while curtailing the cascade operations at Piketon, Ohio) hasn’t clarified Centrus Energy’s layoff plans.
The company recently sent notices to about 380 employees — including 145 workers in Oak Ridge — warning them of possible layoffs due to reduced funding in Fiscal Year 2016. Since then, the funding cuts on American Centrifuge have been ordered — and the stated priority seems to make layoffs in Oak Ridge less likely. Continue reading →
The Department of Energy, via Oak Ridge National Laboratory, is reducing the funds available for the American Centrifuge project, and the future emphasis on the project will shift from the cascade operations at Piketon, Ohio, and go instead to the development work taking place at Oak Ridge.
“Oak Ridge National Laboratory has informed Centrus that it intends to extend its contract with the Company at a reduced level for research on the world’s most advanced uranium enrichment centrifuges. DOE’s decision to provide reduced funding will support continued developments of the company’s American Centrifuge technology – which have long-term importance for our national and energy security,” the Centrus statement said. Continue reading →
Centrus Energy Corp. confirmed Thursday that it had delivered notices to about 380 workers — including 145 in Oak Ridge — warning of possible layoffs over the next couple of months.
Centrus is heading American Centrifuge, a development project that could someday deploy a uranium-enrichment plant to produce fuel for nuclear reactors. Those plans are largely on hold because of market conditions, however, and the company is dependent on funding from the U.S. Department of Energy — which owns the classified technology and wants to keep it available for strategic purposes.
Centrus has been maintaining the centrifuge project under a subcontract to Oak Ridge National Laboratory, which was appointed by DOE to oversee the work. Continue reading →
Centrus Energy Corp. this week reported a net loss of $15.4 million — or $1.71 per basic and diluted share — for the first quarter of 2015. That compares to a net loss of $50.8 million in the same quarter a year ago.
Centrus Energy Corp., formerly USEC Inc., reported a net income of $297.8 million for 2014, which compared to a net loss of $158.9 million for 2013. The fourth quarter of 2014 had a net loss of $42.3 million, the company said in results released this week.
In a statement, John Castellano, the interim and outgoing president and CEO, made this statement: Continue reading →