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USEC bankruptcy filing won’t affect daily operations in Oak Ridge, company says

Posted at 7:00 pm March 10, 2014
By John Huotari Leave a Comment

Centrifuge Machine Manufacturing

In Oak Ridge, USEC workers take part in centrifuge operations, testing, and manufacturing for the American Centrifuge Project. (Photos courtesy USEC)

The Chapter 11 bankruptcy filing and financial restructuring plan that USEC Inc. announced last week will not affect daily operations in Oak Ridge or the American Centrifuge Project, a company spokesman said Monday.

The bankruptcy filing and financial plan are a restructuring of the balance sheet of the parent company, USEC Inc., spokesman Paul Jacobson said. He said the company is trying to strengthen its balance sheet and be a stronger sponsor of the American Centrifuge Project, a “next-generation” U.S. uranium enrichment technology. USEC Inc. is a global energy company that is a leading supplier of enriched uranium fuel for commercial nuclear power plants.

The company currently has 304 people working on the centrifuge program in Tennessee. In Oak Ridge, workers take part in centrifuge operations, testing, and manufacturing.

“This plan for restructuring our debt and equity will have no effect on our employees, who will continue to receive paychecks and benefits in the ordinary course,” Jacobson said. “As we have communicated to our employees previously, some employees will be impacted by several ongoing initiatives that are unrelated to the restructuring.” [Read more…]

Filed Under: Business, Business, Oak Ridge, Slider, Top Stories, U.S. Department of Energy Tagged With: American Centrifuge Project, B&W, Babcock and Wilcox Co., bankruptcy, centrifuge program, Chapter 11, Chapter 11 bankruptcy, financial restructuring, nuclear fuel, nuclear power, Oak Ridge, Ohio, Paducah, Paul Jacobson, restructuring, Securities and Exchange Commission, Toshiba Corp., U.S. Bankruptcy Court, U.S. Department of Energy, United States Enrichment Corp., uranium enrichment, USEC Inc.

Ruby Tuesday restructuring to eliminate 50 positions

Posted at 10:13 pm November 21, 2013
By Oak Ridge Today Staff Leave a Comment

Information from WYSH Radio

Ruby Tuesday announced Wednesday that it will eliminate 50 positions at its restaurant support center in Maryville.

The company, which has a restaurant in Oak Ridge, said the job cuts are in response to a cost review program on the heels of millions of dollars in reported losses during the past couple of years. The move is expected to save the company about $6 million a year beginning in 2015. [Read more…]

Filed Under: Business, Front Page News Tagged With: costs, J.J. Buettgen, jobs, Oak Ridge, restaurant, restaurant support center, restructuring, Ruby Tuesday

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Classifieds

Public notice: Draft environmental assessment for Y-12 Development Organization at Horizon Center

AVAILABILITY OF THE DRAFT ENVIRONMENTAL ASSESSMENT FOR THE OFFSITE HOUSING OF THE Y-12 DEVELOPMENT … [Read More...]

Public Notice: Final environmental assessment available for Lithium Processing Facility at Y-12

AVAILABILITY OF THE FINAL ENVIRONMENTAL ASSESSMENT FOR THE LITHIUM PROCESSING FACILITY AT THE Y-12 … [Read More...]

Public Notice: Comment period extended for Draft EA for Lithium Processing Facility at Y-12

EXTENSION OF THE COMMENT PERIOD FOR THE DRAFT ENVIRONMENTAL ASSESSMENT FOR THE LITHIUM PROCESSING … [Read More...]

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