OTHER NEWS - July 23, 1992

Allied-Signal in Venture to Convert Uranium: Allied-Signal Inc. said it agreed to form a joint venture with Nuclear Fuel Services Inc. and two Russian partners to convert uranium from dismantled nuclear warheads into fuel for nuclear power plants. “This is a classic case of beating swords into plowshares,” said Lawrence Bossidy, Allied-Signal’s chairman and chief executive. Conversion work will begin next year at a Nuclear Fuel Services plant in Erwin, Tenn., which will process 22,000 pounds of the highly enriched uranium into commercial reactor fuel each year. The venture requires approval from the U.S. and Russian governments.