The Babcock & Wilcox Company Announces the Form 10 Registration Statement Relating to the Spin-Off of Its Subsidiary, Babcock...
June 16 2015 - 8:00AM
Business Wire
The Babcock & Wilcox Company (the “Company”) (NYSE:BWC)
announced today that the Securities and Exchange Commission (the
“SEC”) has declared effective the Form 10 registration statement
filed by Babcock & Wilcox Enterprises, Inc. (“New B&W”).
The Form 10 contains an information statement that prior to the
distribution date will be sent to all stockholders of the Company
entitled to receive shares of common stock of New B&W in the
spin-off. The information statement provides additional details
about New B&W and the spin-off. A copy of the preliminary
information statement can be found on the Company’s website,
www.babcock.com, under the Investor Relations tab.
As previously announced, the Company will change its name to BWX
Technologies, Inc. (“BWXT”) on the date of the spin-off.
About B&WHeadquartered in Charlotte, N.C., The
Babcock & Wilcox Company is a leader in clean energy technology
and services, primarily for the nuclear, fossil and renewable power
markets, as well as a premier advanced technology and mission
critical defense contractor. B&W has locations worldwide and
employs approximately 11,600 people, in addition to joint venture
employees located at projects around the world. Follow us on
Twitter @BabcockWilcox and learn more at www.babcock.com.
Cautionary Statement Regarding Forward Looking
StatementsThe Company cautions that this release contains
forward-looking statements relating to the spin-off of the
Company’s power generation business. These forward-looking
statements are based on management’s current expectations and
involve a number of risks and uncertainties, including, among other
things, the separation and distribution may not be completed as
anticipated or at all, and delays or other difficulties in
completing the separation or distribution, including the inability
to satisfy the conditions for completing the spin-off. If one or
more of these risks or other risks materialize, actual results may
vary materially from those expressed. For a more complete
discussion of these and other risk factors, see the Company’s
filings with the Securities and Exchange Commission, including its
annual report on Form 10-K for the year ended December 31, 2014,
and New B&W’s registration statement on Form 10, including its
preliminary information statement, filed with the SEC. The Company
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.
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The Babcock & Wilcox CompanyMedia
Contact:Aimee Mills, Media Relations Lead,
980-365-4145aemills@babcock.comorInvestor Contact:Jenny
Apker, Vice President, Treasurer and Investor Relations,
704-625-4937investors@babcock.com