CONCORD, Mass., Oct. 23 /PRNewswire/ -- Starmet Corporation
(Nasdaq: STMT), formerly Nuclear Metals, Inc., a Concord, Massachusetts based
manufacturer of advanced technology metallurgical products, today announced
the funding of a contract option for approximately $2.0 million from Lockheed
Martin Idaho Technology Company (LMITCO), Idaho Falls, ID. This award
represents the fifth of eight years of contract options under a production
effort for Depleted Uranium (DU) billets in support of the Army's Heavy Armor
Program. The company anticipates that options for the remaining three
contract years will be exercised by LMITCO.
The work involves recycling armor scrap into usable billets for processing
at the Specific Manufacturing Capability plant in Idaho, a Department of
Energy facility which is operated by LMITCO.
SOURCE Starmet Corporation
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CONTACT:
Mr. Frank J. Vumbaco, Vice President,
Corporate Communications, of Starmet Corporation, 508-369-5410
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