BWXT Canada Awarded CA$130 Million Component Manufacturing Contract from Bruce Power
July 05 2022 - 6:45AM
Business Wire
BWX Technologies, Inc. (NYSE: BWXT) today announced a contract
awarded by Bruce Power valued at approximately CA$130 million in
support of Bruce Power’s Major Component Replacement (MCR)
Project.
The contract is for the fabrication and supply of replacement
feeders for Bruce Power’s reactor units 3, 4, 5, 7 and 8 and
represents an integral part of Bruce Power’s MCR Project. Feeder
tube assemblies in CANDU® reactors transport heavy water coolant
between the reactor and steam generators.
The feeders will be manufactured by members of United
Steelworkers Local 2859 at BWXT Canada’s Cambridge, Ontario
facility. The contract was booked in the first quarter of 2022, and
pre-production qualification work for the project is currently
underway. Production manufacturing will commence in the fall of
this year, and the project is expected to complete in 2031.
“This 10-year contract will allow us to make investments in our
workforce and facility,” said John MacQuarrie, President of BWXT
Canada. “Thanks to this contract and others related to nuclear
plant life extension in Ontario, we are creating more
highly-skilled, long-term jobs in our community.”
“We have a Made in Ontario technology and are announcing this
10-year contract today with the confidence that BWXT, and the men
and women of United Steelworkers Local 2859 will continue to
deliver high quality, on time and on budget components for our
Major Component Replacement Project,” said Mike Rencheck, Bruce
Power President and CEO. “Through our Life-Extension Program and
MCR Project, we are securing an important source of clean
electricity to power the province and help meet our climate change
goals.”
“The United Steelworkers are proud to represent the almost 300
members of Local 2859 who have played an integral part in
supporting nuclear projects since BWXT entered the industry over 60
years ago,” said Director of United Steelworkers District 6, Myles
Sullivan. “This contract represents nearly a decade of high-skilled
jobs for our members, and I am confident in their ability to
successfully execute this work.”
“Ontario continues to build a clean and reliable electricity
supply, while adding new good-paying jobs in the energy sector,”
said Ontario Minister of Energy, Todd Smith. “This contract is good
news for Ontario consumers and workers. In addition to helping jobs
in Ontario, the contract is also helping to extend the operational
life of Bruce Power, ensuring Ontario families and businesses have
access to clean, reliable electricity for decades to come.”
“Congratulations to BWXT Canada for securing this long-term
contract award from Bruce Power,” said MPP for Cambridge, Brian
Riddell. “Contracts like these have a sizable and positive impact
on the community through the provision of long-term jobs that
contribute to our local economy.”
“This contract award from Bruce Power is a testament to the
continued dedication and hard work demonstrated by the talented
employees at BWXT,” said Mayor of Cambridge, Kathryn McGarry. “I am
proud of BWXT’s contributions to both the nuclear industry and to
the city of Cambridge. For over 150 years, BWXT has anchored
Cambridge’s reputation for excellence in manufacturing.”
Forward Looking Statements
BWXT cautions that this release contains forward-looking
statements, including statements relating to the performance,
timing, impact and value, to the extent contract value can be
viewed as an indicator of future revenues, of the replacement
feeders contract. These forward-looking statements involve a number
of risks and uncertainties, including, among other things,
modification or termination of the contract and delays. 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 BWXT’s annual report on
Form 10-K for the year ended December 31, 2021 and subsequent
quarterly reports on Form 10-Q filed with the Securities and
Exchange Commission. BWXT cautions not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this release, and undertakes no obligation to update or revise
any forward-looking statement, except to the extent required by
applicable law.
About BWXT Canada Ltd.
BWXT Canada Ltd. (BWXT Canada) has over 60 years of expertise
and experience in the design, manufacturing, commissioning and
service of nuclear power generation equipment. This includes steam
generators, nuclear fuel and fuel components, critical plant
components, parts and related plant services. BWXT Canada’s sister
company, BWXT Medical Ltd. (BWXT Medical) provides its customers,
who conduct life-saving medical procedures for patients around the
world, the benefit of decades of experience in the development,
manufacturing, packaging and delivery of medical isotopes and
radiopharmaceuticals. Headquartered in Cambridge, Ontario, BWXT in
Canada has approximately 1,500 employees at locations in Cambridge,
Dundas, Peterborough, Toronto, Arnprior, Pickering, Port Elgin,
Owen Sound, Kanata and Oakville, Ontario and Vancouver, British
Columbia. BWXT Canada is a subsidiary of BWX Technologies, Inc.
(NYSE: BWXT). Follow us on Twitter @BWXT and learn more at
www.bwxt.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220705005154/en/
Media Contact Natalie Cutler Director, Communications,
BWXT Canada 519.620.5288 nacutler@bwxt.com
Investor Contact Mark Kratz Vice President, Investor
Relations 980.365.4300 investors@bwxt.com
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