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Duratek, Inc. announced that during the first quarter of 2003 Duratek, Inc. was awarded a number of new nuclear utility on-site liquid waste processing contracts, as well as renewals of several key contracts.
The total contract revenue value is $15.5M over five years.
Water processing services provided under the scope of these contracts all use Duratek proprietary technologies. Duratek, Inc. is a leading liquid waste processing contractor within the nuclear utility industry and processes approximately 70 million gallons of water per year.
A cumulative total of over 850 million gallons, over the past 20 years, has been safely and effectively processed. Duratek's well developed and proven technologies also allow nuclear utilities to achieve world-class reactor water chemistry that improves overall plant reliability and performance.
Robert E. Prince, president and CEO said, "Duratek's technologies allow our customers to achieve significant cost savings by reducing radioactive waste generation, as well as minimize or eliminate any environmental impact. With more than 75 percent of commercial nuclear power plants self-performing this function today, clearly winning additional water processing contracts remains an opportunity for the company's growth in the commercial services segment."
Duratek provides safe, secure radioactive materials disposition to commercial, federal and international customers.
Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of Section 21E(i)(1) of the Securities Exchange Act of 1934.
Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Duratek's actual results to be materially different from any future results expressed or implied by these statements.
Such factors include the following: the company's ability to manage its commercial waste processing operations, including obtaining commercial waste processing contracts and processing waste under such contracts in a timely and cost-effective manner; the timing and award of contracts by the U.S. Department of Energy for the cleanup of waste sites administered by it; the Company's ability to integrate acquired companies; the acceptance and implementation of the Company's waste treatment technologies in the government and commercial sectors; and other large technical support services projects.
All forward-looking statements are also expressly qualified in their entirety by the cautionary statements included in the company's SEC filings, including its quarterly reports on Form 10-Q and its annual report on Form 10-K.