Financial trouble for USEC

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Web Editor - Mason Stevenson

PADUCAH, Ky. - There is a sign of trouble for USEC financially.

Thursday, stockholders approved a reverse stock split after their stock price fell to less than $1 a share.  That's below the minimum required to remain on the New York Stock Exchange.

On July 1, every 25 shares of USEC stock will be converted into a single share.

USEC is ceasing operations at the Paducah Gaseous Diffusion Plant.  That shutdown is expected begin next month.

Local leaders are scheduled to meet with the Department of Energy in Washington, DC on July 10 in an attempt to keep the plant open, possibly through another company.
 

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