Duratek
Publication:
PR
Newswire
Publication Date: 16-SEP-04
Format: Online
Delivery: Immediate Online Access
Article Excerpt
WASHINGTON, Sept. 16 /PRNewswire/ -- President George W. Bush today announced
his intention to nominate two individuals to serve in his administration:
The President intends to nominate Francis J. Harvey, of California, to be
Secretary of the Army. Dr. Harvey currently serves as Vice Chairman of Duratek,
Inc., in...
http://goliath.ecnext.com/...
Among Duratek’s major customers
are the US Department of Energy and its prime contractors (such as Bechtel
and Fluor),
other government entities, and electric utilities that operate nuclear power
plants. In 2006 Duratek was acquired by EnergySolutions...
http://www.hoovers.com/duratek/--ID__45680--/free-co-factsheet.xhtml
GTS Duratek announced on January
22, 2001, that it changed its name. The new name, Duratek, “reflects changes
in the Company that position it as a key player in enabling solutions to address
the nation’s energy challenges,” says President and CEO Robert E. Prince.
Duratek offers turnkey services for the safe processing and disposition of
radioactive materials for federal and commercial customers.
http://media.corporate-ir.net/media_files/NSD/DRTK/reports/v27.pdf
We at Duratek believe that we
have played a key role in enabling the industry to achieve this success. Twenty
years ago, on the heels of Three Mile Island, critics claimed that the future of
nuclear power would be hampered by its inability to dispose of its waste and the
risks in transporting waste. Since that time, we (and our predecessor companies)
have worked very closely with our utility clients to demonstrate that low-level
waste can be disposed of safely. Nowhere is that more evident than at our newly
acquired Barnwell facility, where they have gone over 7 years without a
lost-time accident and over 17 years without a regulatory notice of violation.
Our attention to safety and environmental stewardship doesn’t just start
there. It is extremely important to ensure that we uphold the transportation
safety record in the nuclear industry – a record that is nothing short of
remarkable. Throughout its history, the nuclear energy industry has safely
transported more than 45 million packages of radioactive materials. What
contributes to this excellent safety record? It is strict government
requirements on packaging and handling of the radioactive materials, careful
control over the radioactive material being transported, and an established and
proven system for dealing with any accident involving radioactive materials. Our
Hittman subsidiary has played a major role extending this industry safety
record. Just in this past year alone, Hittman made over 5,400 shipments covering
over 6.7 million miles without an accident or a regulatory violation.
http://media.corporate-ir.net/media_files/NSD/DRTK/reports/v27.pdf
Waste Management Federal Services
is a subsidiary of GTS Duratek on October 9, 2000.
http://www.osti.gov/bridge/product.biblio.jsp?osti_id=805366
Top Executives
Daniel D'Aniello, Chairman
Robert Prince, President
Robert Shawver, CFO
Regan Voit, Senior VP of International Sales &
Thomas Dabrowski, Senior VP of Corp. Strategic Planning
http://www.investorwords.com/cgi-bin/stocksymbol.cgi?ticker=DRTK
GTS Duratek Announces Contract
Worth Up to $25 Million in Total Fee's
Excite News
November 27, 2000
http://news.excite.com/news/bw/001127/md-gts-duratek
COLUMBIA, Md. (BUSINESS WIRE) - GTS Duratek, Inc. (NASDAQ:DRTK) today announced
that it is a member of a team led by a subsidiary of the Fluor Corporation that
has been awarded a major new contract with the Department of Energy to complete
the Fernald Environmental Management Project.
As a member of the Fluor Fernald, Inc. project team, GTS Duratek will provide
management and technical expertise in dispositioning the wastes at Fernald. This
work is valued at up to $25 million in total fee over a period of ten years.
"We are proud to be a member of the Fluor Fernald team and look forward to
helping the team reduce the cost of final treatment and disposal of Fernald
wastes, safely and ahead of schedule," said GTS Duratek's President and
CEO, Robert Prince. "The Fluor Fernald team is incentivized to meet or beat
cost and schedule targets while maintaining safety and compliance. We like this
kind of incentive contract because it is a win-win for both the American
taxpayer and corporate shareholders."
Fluor, the prime contractor at Fernald since 1992, was recently awarded a new
10-year contract to complete remediation and closure of the former uranium
processing facility near Cincinnati, Ohio.
In seeking this new contract, Fluor added GTS Duratek's subsidiary, Federal
Services, as an integrated team member to cut the cost of dispositioning
Fernald's radioactive, hazardous and mixed waste and nuclear materials.
GTS Duratek implements technologies and provides services, which protect people
from radiation and the environment from radioactive material.
GTS Duratek has included in its periodic filings under the Securities Exchange
Act of 1934, including its Form 10-Q for the quarter ended September 30, 2000
pursuant to the "safe harbor" provisions contained in the Private
Securities Litigation Reform Act of 1995, certain cautionary statements which
are intended to identify certain important factors that could cause GTS
Duratek's actual results to differ materially from those contained in
forward-looking statements of GTS Duratek made by or on behalf of GTS Duratek.
Reference is made to such statements for a complete discussion of those factors.
Contact: GTS Duratek, Inc. Diane R. Brown, Investor Relations, 410/312-5100
Robert F. Shawver, Exec. V.P., 410/312-5100.
Source: http://nucnews.net/nucnews/2000nn/0011nn/001127nn.htm#09
TWST: If you would, give us a background summary on the company, and then tell us what you see as your business and as your company today?
Mr. Prince: We started in 1990 as a small, $7 million company with a single radioactive waste treatment technology. Today, we are the leading transporter, processor, and service provider in the United States for dealing with radiation and radioactive waste, with annual revenues of approximately $165 million.
TWST: For the investment community, at this point, how could they better understand GTS Duratek? Are there misperceptions that you encounter as you speak with your own shareholders, potential investors, or industry analysts?
Mr. Prince:Yes, I think there are. Our earnings in 1997 and 1998 were completely wiped out by a single project which had to do with commercializing a radioactive glass melting technology, in order to benefit from that technology going forward. We did it, but we paid a heavy price. What wasn't seen was the growth in our operating profit exclusive of that project from ongoing operations during that period. So, they were surprised. They said: "Wow, what a turnaround you did in 1999." Well, not really. We've been building for this over the last three years. Our customer base is now 80 percent commercial and only 20 percent government. Of that 20 percent government, there's no fixed-priced work. We are supporting British Nuclear Fuels on its large projects for the Department of Energy. It is a real transformation of GTS Duratek, and I think the true story just didn't have enough time to reveal itself. I think as we continue to grow our earnings each quarter and we have a clean year behind us, it will start to become obvious.
Source:
http://www.twst.com/notes/articles/jaf604.html
23.07. BNFL Inc. has been awarded
a 20 year contract with the Department
of Energy worth US$6.9 billion. The deal calls for BNFL to treat and
immobilise highly radioactive liquid waste stored in 177 underground tanks at
the Hanford nuclear site in Washington state. The contract is in two parts, and
will ultimately result in the immobilisation of 20% to 25% of the radioactivity
in 54 million gallons of waste at the site, by 2018. The first part of the
contract covers a two-year design phase. BNFL's partners in the work include
Bechtel National Inc. and GTS Duratek and Science Applications International
Corporation. The contract is subject to a 30 day review period by the US
Congress.
http://www.anti-atom.de/bnfl.htm