[en] After almost 40 years of operation, the federal government is withdrawing from the uranium enrichment business. On July 1, the Department of Energy turned over to a new government-owned entity--the US Enrichment Corp. (USEC)--both the DOE enrichment plants at Paducah, Ky., and Portsmouth, Ohio, and domestic and international marketing of enriched uranium from them. Pushed by the inability of DOE's enrichment operations to meet foreign competition, Congress established USEC under the National Energy Policy Act of 1992, envisioning the new corporation as the first step to full privatization. With gross revenues of $1.5 billion in fiscal 1992, USEC would rank 275th on the Fortune 500 list of top US companies. USEC will lease from DOE the Paducah and Portsmouth facilities, built in the early 1950s, which use the gaseous diffusion process for uranium enrichment. USEC's stock is held by the US Treasury, to which it will pay annual dividends. Martin Marietta Energy Systems, which has operated Paducah since 1984 and Portsmouth since 1986 for DOE, will continue to operate both plants for USEC. Closing one of the two facilities will be studied, especially in light of a 40% world surplus of capacity over demand. USEC also will consider other nuclear-fuel-related ventures. USEC will produce only low-enriched uranium, not weapons-grade material. Indeed, USEC will implement a contract now being completed under which the US will purchase weapons-grade uranium from dismantled Russian nuclear weapons and convert it into low-enriched uranium for power reactor fuel