SOURCE: EnergySolutions

EnergySolutions

July 14, 2010 12:15 ET

EnergySolutions Announces Change in International Waste Strategy

SALT LAKE CITY, UT--(Marketwire - July 14, 2010) -  EnergySolutions, Inc. (NYSE: ES) announced today that it is pursuing a new international business strategy that does not include the disposal of internationally generated radioactive waste at its facility in Clive, Utah. Instead, the company is focusing on the long-term strategic interests of its international customers, by providing a wide range of engineering and technical services to facilitate final in-country disposition of these materials.

"As a new executive management team, we have revisited our international strategy and are focusing on developing the greatest long-term value proposition for our international customers," said Val Christensen, President and CEO of EnergySolutions. "We have determined that we can best serve our international customers by exporting our skills and technologies and building longer term relationships to assist them in developing their own local facilities and capabilities, rather than pursuing a short-term disposal solution at the company's Clive, Utah facility."

An example of this new strategy is EnergySolutions' recently signed multi-million dollar contract to provide engineering services and equipment to manage liquid and solid waste streams at a new nuclear power plant in China.

Christensen emphasized that EnergySolutions' unique facilities and operations will be used as models for developing safe and efficient long-term disposal operations in countries where low-level radioactive materials are generated. "The company's Clive, Utah and Oak Ridge, Tennessee facilities will be reference sites for building international customer confidence in safe and environmentally sustainable long-term management of low-level radioactive materials," Christensen noted.

EnergySolutions offers customers a full range of integrated services and solutions, including nuclear operations, characterization, decommissioning, decontamination, site closure, transportation, nuclear materials management, processing, recycling, and disposition of nuclear waste, and research and engineering services across the nuclear fuel cycle.

Statements in this news release contain forward-looking statements that involve risks and uncertainties including those related to future business opportunities and strategies. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Forward-looking statements are not guarantees of future performance and the Company's actual results may differ significantly from the results discussed in the forward-looking statements. In addition, other risks are identified in the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the SEC. The Company expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in company expectations or results or any change in events.

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