Ceradyne, Inc. Announces $18.3 Million Contract Award for Enriched Zirconium Diboride
March 01 2011 - 7:30AM
Marketwired
Ceradyne, Inc. (NASDAQ: CRDN) announced a three-year contract award
to Boron Products, LLC, a wholly owned subsidiary of Ceradyne,
Inc., of approximately $18.3 million for the supply of B-10
enriched zirconium diboride (ZrB2) to Westinghouse Electric
Company-Nuclear Fuels Division (WEC) for nuclear fuel applications.
Enriched zirconium is designed into the WEC Integral Fuel Burnable
Absorber (IFBA) which is the most extensively used absorber in
Westinghouse pressurized water reactors. Approximately $6.0 million
of the total award is included in Ceradyne's existing revenue
guidance for 2011.
A thin layer of ZrB2 on UO2 pellets is the optimal fuel design
because it is integral to the fuel, can be entirely depleted, and
provides excellent reactivity control. Isotopically enriched
zirconium diboride allows for the most efficient manufacturing
process in the fabrication of nuclear fuels. Westinghouse's ZrB2
IFBA is a key element in achieving superior fuel cycle costs.
"Westinghouse continues to be a global leader in the advancement
of nuclear fuel technology," said Dennis Manning, Ceradyne Boron
Products Vice President and General Manager. "Ceradyne Boron
Products has a long history in this market area. We are committed
to increasing our collaborative relationship in support of
Westinghouse's future developments. Both companies are dedicated to
capitalizing on each other's strengths to extend market leading
positions and create additional opportunities for success."
Ceradyne Boron Products operates the world's largest boron
isotope separation facility providing enriched boron products for
commercial nuclear power, defense, semiconductor, and neutron
detection applications. Enriched boron compounds are manufactured
under an ISO 9001:2008 certified quality system and exceed nuclear
safety and environmental regulated guidelines. Additional
information can be found at www.ceradyneboron.com.
About Ceradyne, Inc. Ceradyne develops, manufactures, and
markets advanced technical ceramic products and components for
defense, industrial, energy, automotive/diesel, and commercial
applications. In many high performance applications, products made
of advanced technical ceramics meet specifications that similar
products made of metals, plastics or traditional ceramics cannot
achieve. Advanced technical ceramics can withstand extremely high
temperatures, combine hardness with light weight, are highly
resistant to corrosion and wear, and often have excellent
electrical capabilities, special electronic properties and low
friction characteristics. Additional information about the Company
can be found at http://www.ceradyne.com.
Forward-Looking Statements Except for the historical information
contained herein, this press release contains forward-looking
statements regarding future events and the future performance of
Ceradyne that involve risks and uncertainties that could cause
actual results to differ materially from those projected. Words
such as "anticipates," "believes," "plans," "expects," "intends,"
"future," and similar expressions are intended to identify
forward-looking statements. These risks and uncertainties are
described in the Company's Annual Report on Form 10-K for the
fiscal year ended December 31, 2010 and its Quarterly Reports on
Form 10-Q as filed with the U.S. Securities and Exchange
Commission.
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