Publication Laka-library:
Annual Report and Accounts 2004
| Author | Urenco |
| Date | 2005 |
| Classification | 1.01.8.30/48 (URENCO/UCN ALMELO - GENERAL) |
| Front | 
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From the publication:
Urenco Annual Report 2004 Statement of the Chairman This has been another good year for Urenco, with net profit up 24% at €134 million (2003: €1 08 million). Performance in 2004 All our plants achieved better than targeted production; all operated safely throughout the year, although further improvements will continue to be sought. New enrichment capacity was added ahead of target and within expected costs. Costs continue to be well controlled and all deliveries to our customers were completed on time. In 2004, for the first full year, the Group operated under its new structure, with the technology activities (ETC) now separated from the enrichment activities (UEC). During the year significant progress was made towards the granting of a licence along with further preparations for the proposed plant in the United States, with our minority partner Westinghouse Electric Company. Urenco's agreement with Areva, which will allow Areva to share ownership in ETC. has continued to make progress through the political approvals. ETC and Areva will then work together to construct a centrifuge enrichment plant in Tricastin, France. Business environment Demand for energy will continue to increase as the economies in the developed world expand and significant growth is predicted from the emerging economies, particularly in Asia. This will potentially lead to a gap between supply and demand.
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