Question-and-Answer Session
Operator
Thank you. (Operator Instructions) All right, we'll take our first question from Howard Rubel with Jefferies.
Howard Rubel - Jefferies
Just two questions. One, Dave, CapEx was 47 million in the first half. It sounds like the second half will be a little slower. Could you give a sense of where you're going to be, and will that be a new run rate for a while?
David Berges
We said we're still going to be under 100. We haven't defined our second half yet internally or externally. We are clearly redirecting our focus from what was a frantic capacity expansion mode to what can we do to increase productivity mode. So we're reviewing a number of projects to look at both quick payback projects that were perhaps sacrificed in recent years as we were ramping up and had some covenant problems and also a debottlenecking project.
So we're starting to realize that, in the lull, if we can improve the capital efficiency, particularly on carbon fiber lines, the payback will come for years and years with respect to cash flow. So, we're in the midst of reassessment. I am sure it will still stay under 100. I think we've said we'll still stay under 125 next year. But in all likelihood, particularly if the USEC project ends up being delayed or entirely stopped, we would expect that we'll come back to you with some lower future spend rates.
Howard Rubel - Jefferies
Just to follow up, I think, two years ago, you had this unexpected drop or this fairly rapid drop. Your gross margins would not have been as good as they are today. So, I guess I'm going to give you a little bit of -- I'm going to give you some credit for that, which is pretty good. But that's yesterday, and so going forward you talk about debottlenecking and thinking a little bit more carefully about how to improve productivity at these rates going forward. I mean, what sort of margins or gross margins do you think are achievable?
David Berges
Seems I get that question every quarter, and I should have a quick answer for you.
Howard Rubel - Jefferies
But you're not going to tell me, right?
David Berges
Well, that's the short answer. But let me fill it in a little bit. It doesn't help a lot to go back and reset the clock. I don't know that anybody a year ago could have predicted so many things could go wrong in the global economy. But I do appreciate that we managed to hold margins despite opening five new plants. We've improved our absolute performance of the plants.
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