B&W Awarded Boiler Equipment Replacement Contract
March 20 2018 - 8:30AM
Business Wire
Babcock & Wilcox Enterprises, Inc. (NYSE:BW) announced today
that its subsidiary, The Babcock & Wilcox Company (B&W),
has been awarded a contract for more than $50 million to design and
supply boiler equipment for an existing North American power plant.
The majority of the value of this contract will be booked in first
quarter 2018.
“Maintaining a reliable and efficient North American power fleet
is a key goal for B&W’s Power business,” said Mark Low, Senior
Vice President of B&W’s Power segment. “Coal-fired plants
continue to provide a substantial portion of the power delivered to
the electrical grid, and it’s critical that these plants be
maintained to operate at peak efficiency.”
B&W has successfully executed thousands of component
replacement projects for B&W and non-B&W utility and
industrial boilers. For this project, B&W will manufacture
replacement boiler components for the plant’s coal-fired, natural
circulation B&W Radiant Boiler.
Work is underway on this project and material delivery is
scheduled to be completed in mid-2020.
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. 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’s contract to design and supply replacement boiler
components 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
contract, and adverse modifications to the contract, 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: https://www.businesswire.com/news/home/20180320005248/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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