Babcock & Wilcox Thermal Awarded Air Heater Replacement Contract for U.S. Power Plant
October 01 2020 - 9:22PM
Business Wire
Babcock & Wilcox (B&W) (NYSE: BW) announced today that
its B&W Thermal segment will supply and install replacement
secondary air heater components for a U.S. power plant.
The contract was awarded to B&W’s subsidiary, Babcock &
Wilcox Construction Co., LLC (BWCC), and is valued at approximately
$5 million. Concurrent with this work, the company will resume
outage maintenance work at the same plant that had been delayed
since Spring 2020. The postponed maintenance work contract was
awarded to BWCC in 2019 and is valued at approximately $8
million.
“B&W Thermal has the technologies and capabilities to
provide a complete suite of replacement parts, equipment and field
services to the global power fleet,” said B&W Chief Operating
Officer Jimmy Morgan. “We’re pleased to build on our strong
relationship with our customer and appreciate the confidence they
place in the work we perform.”
“We’re also encouraged that this project that was temporarily
paused earlier this year has restarted, allowing us to continue to
provide critical services to this customer,” Morgan added.
B&W Thermal’s regional construction service centers, which
allow the company to quickly and efficiently serve customers
anywhere in North America, will provide support for these projects.
Both projects are expected to be completed in the fourth quarter of
2020.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox is a global
leader in energy and environmental technologies and services for
the power and industrial markets. Follow us on Twitter
@BabcockWilcox and learn more at www.babcock.com.
About B&W Thermal
Babcock & Wilcox Thermal designs, manufactures and erects
steam generation equipment, aftermarket parts, construction,
maintenance and field services for plants in the power generation,
oil & gas, and industrial sectors. B&W has an extensive
global base of installed equipment for utilities and general
industrial applications including refining, petrochemical, food
processing, metals and more.
Forward-Looking Statements
B&W cautions that this release contains forward-looking
statements, including, without limitation, statements relating to
the execution and completion of a contract to supply and install
replacement secondary air heater components for a U.S. power plant.
These forward-looking statements are based on management’s current
expectations and involve a number of risks and uncertainties. For a
more complete discussion of these risk factors, see our filings
with the Securities and Exchange Commission, including our most
recent annual report on Form 10-K. If one or more of these risks or
other risks materialize, actual results may vary materially from
those expressed. We caution readers not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this release, and we undertake 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/20201001006215/en/
Investor Contact: Megan Wilson Vice President, Corporate
Development & Investor Relations Babcock & Wilcox
704.625.4944 | investors@babcock.com
Media Contact: Ryan Cornell Public Relations Babcock
& Wilcox 330.860.1345 | rscornell@babcock.com
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