URENCO celebrates capacity milestone
12 June 2008
URENCO celebrated a new milestone as annual production capacity across the Group reached 10,000 tonnes of separative work. Such capacity is sufficient to serve the fuel demand of approximately 100 large nuclear power stations.
The continued investment in new capacity is a direct response to growing customer demand. URENCO benefits from a strong position in a growing market for Uranium enrichment services. With a current market share of 23% and a forward order book exceeding €18 billion stretching beyond 2025 the company’s strategy of “growth through investment” has been rewarded with the successful execution of its capacity expansion programme.
URENCO’s success has been built on the solid foundations of a robust safety and environmental record. This together with sustained strong business performance has enabled the continuation of the capacity expansion programme across the Group. During 2007 investment increased by 50% to €527 million allowing funding of new enrichment facilities across the Group’s European sites and the construction of a new plant in the United States.
Helmut Engelbrecht, Chief Executive Officer commented: “The achievement of this major milestone signifies our continued strong underlying business performance and is testament to the dedication of URENCO’s employees. We will continue to focus on our forward strategy of “growth through investment” to ensure we continue to provide a secure, reliable supply of enrichment services for our customers”.