B&W SPIG Awarded Contracts Totaling $60 Million in First Quarter of 2017
April 27 2017 - 7:30AM
Business Wire
Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW),
announced today that its subsidiary, Babcock & Wilcox SPIG,
Inc. (B&W SPIG), was awarded three major contracts totaling
more than $60 million in the first quarter of 2017 to design and
supply dry cooling systems for U.S. customers.
Under the contracts, B&W SPIG will supply five low-noise
air-cooled condensers and one air-cooled heat exchanger, also known
as an air fin cooler, to customers in the United States.
Both of these types of B&W SPIG dry cooling systems features
highly efficient, state-of-the-art designs that are custom
engineered for high performance and reduced site construction
costs. Dry cooling systems are typically used in process industries
such as oil and gas, petrochemical and chemical processing, and in
electric power plants and waste-to-energy plants.
“We are extremely pleased that our customers have chosen B&W
SPIG for their plant cooling needs,” said Francesco Racheli, senior
vice president, B&W SPIG. “B&W SPIG’s cooling technologies
are custom designed and well-suited to utility and industrial
applications, and we see numerous new or retrofit opportunities in
various sectors for these technologies across the globe.”
Work is underway on all three projects, with equipment
deliveries scheduled for dates in 2017 and 2018.
B&W acquired SPIG S.p.A., a global provider of
custom-engineered cooling systems and services, in July 2016. The
acquisition further expanded the range of technologies and services
B&W provides its industrial and power generation customers,
while also providing B&W SPIG with additional opportunities to
grow its global footprint, including in the United States.
About B&W
Headquartered in Charlotte, N.C., Babcock & Wilcox is a
global leader in energy and environmental technologies and services
for the power and industrial markets, and has been transforming our
world for 150 years. B&W companies employ approximately 5,000
people worldwide. Follow us on Twitter @BabcockWilcox and learn
more at www.babcock.com.
Forward-Looking Statements
B&W cautions that this release contains forward-looking
statements, including statements relating to the scope and timing
of B&W SPIG’s contracts to design and supply dry cooling
systems as described above. These forward-looking statements
involve a number of risks and uncertainties, including, among other
things, disputes with customers or suppliers, availability of
engineering resources, delays or other difficulties executing such
contracts, and adverse modifications to the contracts, including
termination. If one or more of these or other risks materialize,
actual results may vary materially from those expressed. For a more
complete discussion of these and other risk factors, please see
B&W's filings with the Securities and Exchange Commission,
including our most recent annual report on Form 10-K and subsequent
quarterly reports on Form 10-Q. B&W cautions not to place undue
reliance on these forward-looking statements, which speak only as
of the date this release, and undertakes no obligation to update or
revise any forward-looking statement, except to the extent required
by applicable law.
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version on businesswire.com: http://www.businesswire.com/news/home/20170427005186/en/
Babcock & WilcoxInvestor Contact:Chase Jacobson,
704-625-4944Vice President, Investor
Relationsinvestors@babcock.comorMedia Contact:Ryan Cornell,
330-860-1345Public Relationsrscornell@babcock.com
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