Centrus Energy gains after announcing extra centrifuge manufacturing capacity
20/11/2024 18:36
** Shares of nuclear fuel supplier Centrus Energy LEU.A
gains 8.6% at $74.36
** Co says it is resuming centrifuge manufacturing
activities and expanding its manufacturing capacity at its
facility in Oak Ridge, Tennessee
** LEU says it will invest additional $60 mln for this
effort in the next 18 months to primarily lay the groundwork for
a large-scale expansion later at its plant in Piketon, Ohio
** Centrifuges are used to enrich uranium fuel for reactors
** Co said on Monday that Russia's TENEX sent it a notice of
cancellation of its license to export low-enriched uranium to
the U.S., effective through Dec. 31, 2025
** Stock had fallen more than 10% on the previous session
** Including the session's gains, stock is up ~36% YTD
(Reporting by Sourasis Bose in Bengaluru)
((Sourasis.bose@thomsonreuters.com))