• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Washington Group International Clarifies News Reports Regarding Its Interest in U.K. Nuclear Activities

Posted on: Thursday, 11 May 2006, 18:01 CDT

BOISE, Idaho and LONDON, May 11 /PRNewswire-FirstCall/ -- Washington Group International supports the U.K. government and U.K. Nuclear Decommissioning Authority initiatives to deal with nuclear waste legacy issues. Washington Group is considering a variety of options to support those efforts, including serving as a direct contractor, as Washington Group does now in the United States as a leading provider of nuclear waste management services to the U.S. Department of Energy.

Despite some news reports to the contrary, the company has made no decision on whether to bid to purchase British Nuclear Group. A final decision will be dependent on many factors including the procurement process, associated liabilities and risks, and terms and conditions, which have yet to be announced by the seller.

The company has decided to pursue the contract to operate the Drigg low-level waste facility where it would leverage its site knowledge and experience working at Drigg the past five years as well as its expertise in operating the only deep geological waste repository in the United States.

As to reported comments about importing U.S. nuclear material into the United Kingdom for reprocessing, Washington Group is not advocating any such action.

Washington Group International (http://www.wgint.com/), with headquarters in Boise, Idaho, provides the talent, innovation, and proven performance to deliver integrated engineering, construction, and management solutions for businesses and governments worldwide. Its long history of successful DOE operations includes management and operation contracts at the Savannah River Site, Waste Isolation Pilot Plant, and West Valley Demonstration Project. It also is the lead contractor at Hanford River Corridor Closure Project; is part of the management teams at the Idaho National Laboratory, Los Alamos National Laboratory, Idaho Cleanup Project, and Miamisburg Closure Project; and provides technical support and consulting at Lawrence Livermore, Sandia National Laboratories, DOE's Hanford Site, the Pantex Plant, and the Oak Ridge complex.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are identified by the use of forward-looking terminology such as may, will, could, should, expect, anticipate, intend, plan, estimate, or continue or the negative thereof or other variations thereof. Each forward-looking statement, including, without limitation, any financial guidance, speaks only as of the date on which it is made, and Washington Group undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. The forward-looking statements are necessarily based on assumptions and estimates of management and are inherently subject to various risks and uncertainties. Actual results may vary materially as a result of changes or developments in social, economic, business, market, legal, and regulatory circumstances or conditions, both domestically and globally, as well as due to actions by customers, clients, suppliers, business partners, or government bodies. Performance is subject to numerous factors, including demand for new power generation and for modification of existing power facilities, public sector funding, demand for extractive resources, capital spending plans of customers, and spending levels and priorities of the U.S., state and other governments. Results may also vary as a result of difficulties or delays experienced in the execution of contracts or implementation of strategic initiatives. For additional risks and uncertainties impacting the forward-looking statements contained in this news release, please see "Note Regarding Forward-Looking Information" and "Item 1A. Risk Factors" in Washington Group's annual report on Form 10-K for fiscal year 2005.

Washington Group International

CONTACT: Media, Jerry Holloway or Laurie Spiegelberg, +1-208-386-5255,or Investors, Earl Ward, +1-208-386-5698, both of Washington GroupInternational

Web site: http://www.wgint.com/

Source: PRNewswire-FirstCall

More News in this Category