Date: June 24, 2008
Source: EnergySolutions, Inc.
EnergySolutions Signs 5-Year Disposal Contract With The Army Sustainment Command
EnergySolutions, Inc. (NYSE: ES) announced today it has signed a waste disposal agreement with the Army Sustainment Command (ASC), in conjunction with the Joint Munitions Command (JMC) to manage and dispose of Department of Defense Class A low-level radioactive waste material at the EnergySolutions' Clive disposal facility. The contract has a value of up to $25 million and is now in effect with the first material loaded and expected to arrive at Clive within a month.
"We are delighted to have our Clive Facility serve to ensure the proper disposal of Class A low level radioactive waste for the Department of Defense and we appreciate the confidence ASC and JMC officials have in EnergySolutions to safely manage and dispose of this material", said Steve Creamer, CEO and Chairman of EnergySolutions.
The Army Sustainment Command (ASC) and Joint Munitions Command (JMC) are responsible for coordinating the disposition of radioactive materials from both active and inactive military installations. Both truck and rail service will be utilized in shipping such material to the Clive facility, with the majority of it probably arriving by rail. This agreement may also be utilized by other government agencies beyond the Department of Defense with JMC approval.
EnergySolutions offers customers a full range of integrated services and solutions, including nuclear operations, characterization, decommissioning, decontamination, site closure, transportation, nuclear materials management, processing, recycling, and disposition of nuclear waste, and research and engineering services across the nuclear fuel cycle.
Statements in this news release may contain forward-looking statements that involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Forward-looking statements are not guarantees of future performance and the Company's actual results may differ significantly from the results discussed in the forward-looking statements.
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