The Treasury Department is expected this week to tell Congress when it will allow the sale of the U.S. Enrichment Corp., a federally owned entity that enriches uranium for use in nuclear power plants and buys surplus weapons uranium from Russia, The Washington Post reported.
The sale of the USEC, authorized by President Clinton in July, is expected by analysts to bring the government $1 billion to $2 billion. Under the Clinton administration plan, the company could be sold either to another corporation or to the public through a stock offering.
Two groups have expressed an interest in acquiring USEC. One is an alliance of Allied Signal Inc., Babcock & Wilcox Co., Fluor Daniel Inc., General Atomics Aeronautical Systems Inc. and Lockheed Martin Corp. The other is an alliance of CH2M Hill Companies Ltd. and the Plaides Group, which is headed by former Commerce Secretary Robert Mosbacher and Russian-American entrepreneur Alexander Shustorovich. Westinghouse Electric Corp. "may also bid for the company," according to the Post report.
NEXT STORY: Our New Look