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Technology Stocks : GTS DURATEK INC (DRTK )

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To: ron peterson who wrote (6)3/31/1997 9:44:00 PM
From: Peter H. Hodge   of 49
 
Stock's fall today due to the following news:

Monday March 31 10:08 AM EST

GTS Duratek Inc closes plant temporarily

COLUMBIA, Md., March 31 (Reuter) - GTS Duratek said Monday it had temporarily suspended the processing of radioactive waste at a melter plant after observing possible signs of wear on certain components.

Once the melter cools down, GTS said it would make an inspection to see if any repairs are necessary.

"The financial impact could be negligible, or it could be large enough to have an impact on our near-term earnings," it said. "It is impossible to predict until the assessment is complete."

GTS said the plant, at the U.S. Department of Energy's Savannah River site, would take "several" days to cool down.

"The repairs could range from minimal repairs to replacing certain melter components, to possibly replacing the entire melter box," it said. "If corrective action results in a delay in completing the processing of radioactive waste, the company could incur contract losses on the Savannah River contract in 1997."

GTS said its $14 million contract obliges it to complete its processing of radioactive waste by October 1997.

The company converts radioactive and other hazardous waste into what it describes as environmentally safe forms.
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