CONCORD, Mass., Sept. 29 /PRNewswire/ -- Nuclear Metals, Inc.
(Nasdaq: NUCM) , a diversified metallurgical technology company based in
Concord, Massachusetts announced today that it has received shareholder
approval to change its company name to STARMET CORPORATION.  Shareholders also
approved the proposed corporate restructuring plan to establish several new
wholly owned subsidiaries.  At the conclusion of a special meeting of
shareholders held earlier today in Concord, President Robert E. Quinn stated,
"With the backing of our shareholders received this morning, we will now
undertake key changes to our company structure, which we believe will better
position our patented technologies for their expected future growth.  This
restructuring will, over the long term, improve stockholder value."  He then
announced the following changes will take place on October 1, 1997.  Four new
wholly owned subsidiaries will be created under Starmet Corporation.
    Starmet NMI will provide manufacturing and sales of depleted uranium
products for both defense and commercial shielding applications.  Starmet
Powders will provide manufacturing and sales of high purity spherical metal
powders.  Starmet Aerocast will provide manufacturing and sales of
Beralcast(R) products for use by the government and in the aerospace industry.
Starmet Comcast will provide manufacturing and sales of Beralcast(R) products
for general commercial use.  The company's existing Barnwell, South Carolina
subsidiary, Carolina Metals, Inc. will be renamed Starmet CMI and provide
uranium metal products and related services to both the commercial and
government markets.
    A new stock trading symbol has been reserved with the Nasdaq stock market
under the symbol STMT.

Link to this page: