GTS Duratek gets job disposing of radioactivity Power plant cleanup valued at $14 million

February 04, 1992|By Liz Bowie

GTS Duratek, a company specializing in environmental clean up, was awarded a contract to help dispose of radioactivity from Shoreham Nuclear Power Plant near Wading River, N.Y.

The Long Island Power Authority awarded the contract for the two-year project, which is valued at about $14 million.

GTS Duratek's employees will monitor the radiation on plant workers, help clean equipment and handle the radioactive waste after the cleaning, according to company officials.

The cleanup will occur as Shoreham is decommissioned.

"The contract represents a significant step in the turnaround of the company," said Robert E. Prince, GTS Duratek's president and chief executive officer.

GTS Duratek, which reported a loss of $736,000, or 10 cents a share, in the first nine months of 1991, completed a major restructuring in the last half of 1990.

The company sold most of its business that provided technology to clean up low-level radioactive water to nuclear power plants in 1990.

Instead, GTS Duratek went on to patent new technology for turning radioactive waste sludge and dirt into glass, Mr. Prince said.

The company said it hopes to take advantage of the need to clean up federal nuclear-waste sites, which is expected to cost $400 billion.

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