Mar 2 2011
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.