Remediation: DOE funding cut shakes MMT
Molten Metal Technologies (MMT; Waltham, MA) announced last week that its 1993-97 R&D contract with the Department of Energy (DOE) would provide $12 million less next year than had been projected. The company was struck an additional blow when its stock plummeted more than 50% in three days on the news. MMT says that with tightened resources it will refocus attention on two core areas: chemical and radioactive wastes. The company says construction on some of its projects will be delayed, but an MMT unit that employs a molten metal bath to destroy wastes at a Hoechst plant at Bay City, TX and a planned unit at Celanese Mexicana`s Coatzacoalcos, Veracruz plant will go ahead. Those projects are slated to be completed by the end of 1997 and 1999, respectively.
- OSTI ID:
- 508317
- Journal Information:
- Chemical Week, Vol. 158, Issue 41; Other Information: PBD: 30 Oct 1996
- Country of Publication:
- United States
- Language:
- English
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