* Company says two-week strike forces layoffs
* Facility manufactures fuel bundles, other components
* Stock retreats 1.1 percent
TORONTO, Sept 17 Canadian uranium producer
Cameco (CCO.TO) has laid off 79 non-union employees at its two
nuclear fuel manufacturing plants in Ontario due to a
two-week-old strike at the facilities, a company official said
Fuel manufacturing at Cameco's Port Hope, Ontario, facility
has been completely halted, while the company's nearby Cobourg
operation is running on a partial basis, Cameco spokesman Lyle
A total of 137 unionized workers walked off the job two
weeks ago after failing to come to a contract agreement with
the company. Key issues are wages and benefits, including
"The current labor dispute has really led to a shortage of
work, and so we're put in the unfortunate position of having to
lay these people off," Krahn said.
"We hope to be able to recall everyone once this is over,
but we'll have to see how things go in the future."
He said no talks have been scheduled with the union.
Cameco's fuel manufacturing business in Port Hope and
Cobourg is separate from Cameco's uranium conversion facility,
which is also in Port Hope. The fuel manufacturing business
does not generate a significant chunk of Cameco's revenues, the
Total revenues for the company last year were C$2.9
Krahn said Cameco's fuel customers typically keep
inventories of fuel bundles.
"We have indications that they have many months of supply
to carry them over," he said.
Cameco's shares were down 37 Canadian cents, or 1.1
percent, at C$31.97 on the Toronto Stock Exchange on Thursday
(Reporting by Cameron French; editing by Peter Galloway)