BETHESDA, Md. (AP) -- Uranium processor USEC Inc. said Tuesday it bought a uranium enrichment facility formerly operating by Boeing Co. in Oak Ridge, Tenn.
USEC paid $5 million for the 74-acre site, which includes a large building specifically built to make, balance and test centrifuges as part of a Department of Energy gas centrifuge enrichment program in the 1980s, USEC said.
USEC said the assessed value of the site is $13 million, and it plans to put more than $50 million into the facility.
Babcock & Wilcox Technical Services Group Inc. took over operations at the plant from Boeing last summer on behalf of USEC. Since then, USEC said it has been refurbishing the site and installing new equipment.
USEC said it received a package of tax credits and other incentives to keep centrifuge machine manufacturing work in Oak Ridge. The company plans to open a separate centrifuge plant in Piketon, Ohio, late next year.