ML20078G250

Notifies That on 640402,substantially All Fixed Assets & Portion of Quick Assets of Fuel Fabrication Facility at Port Hope Were Sold & Transferred by NFS to Canadian Westinghouse Co,Ltd

ML20078G250
Person / Time
Site:	West Valley Demonstration Project
Issue date:	05/15/1964
From:	Bechhoefer B SCHARFELD, BECHHOEFER & BARON
To:	Johnson L US ATOMIC ENERGY COMMISSION (AEC)
Shared Package
ML20078G199	List: ML20078G203 ML20078G207 ML20078G210 ML20078G214 ML20078G218 ML20078G222 ML20078G226 ML20078G241 ML20078G250 ML20078G265 ML20078G276 ML20078G284 ML20078G287 ML20078G291 ML20078G300 ML20078G308 ML20078G336
References
FOIA-83-354 NUDOCS 8310120023
Download: ML20078G250 (1)

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f May 15, 1964 Z My}gg g @1 e i f""#*a%m dc==., i Mr. Lyal nson, Acting Director u = '8t a septerree Division of Materials' Licensing 9 J United States Atomic Energy Commission m Washington, D. C. .

20545 Re: Docket No. 50-201

Dear Mr. Johnson:

Jilocopy As set forth in the application herein for construction permit and licenses, the American Machine & Foundry Company as a C partial consideration for the stock of Nuclear Fuel Services, Inc.,

allotted to it, transferred to Nuclear Fuel Services, Inc., all the issued and outstanding stock of AMF-Atomics Canada, Ltd., an Ontario corporation which owned and operated a fuel fabrication plant at Port Hope, Ontario, Can ada.

On April'2, 1964, substantially all the fixed assets and a portion af the quick assets pertaining to the fuel fabrica-tion facility at Port Hope were sold and transferred by Nuclear Fuel Services, Inc., to Canadian Westinghouse Company, Limited, a Canadian corporation. The proceeds from this sale amounted to approximately $437,000.00 (subject to adjustment, plus or minus, not exceeding $10,000.00), and are payable in cash. In addition, Nuclear Fuel Services, Inc., retains cash and marketable securi-ties of a value of $226,000.00 which were not sold by AMF-Atomics Canada, Ltd., to Canadian Westinghouse company, Ltd. ,

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In the application herein it is stated, "The applicant will have two principal stockholders, Grace owning.approximately seventy.eight (78) percent and AMF owning approximately twenty-two (22) percent." Under existing arrangements the applicant will issue 1,000 shares of stock:- 800 shares to be issued to W. R. Grace and Company, 160 shares to American Machine & Foundry Company and 40 shares to AMF-Canada, Ltd., a Canadian Corporation, all the stock of which is owned by American Machine & Foundry Company.

We had contemplated including this material in the semi-annual report which the applicant filed covering the period from October 1, 1963, through March 31, 1964. However, this was not possible since the transactions were not completed until after the close of the period. We thought that this transaction should be brought to your attention at this time since it was completed so soon after the previous semi-annual report.

0310120023 830714 Very truly yours A O -354 PDR 6, BGB:ges Bernhard G. Bechhoefer MM

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