CHARLOTTE, N.C.--(BUSINESS WIRE)--Jul. 12, 2012--
The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its
subsidiary Babcock & Wilcox Nuclear Operations Group, Inc. (B&W NOG) has
received three U.S. Naval Reactors Program contracts totaling
approximately $73 million. The contracts are for technology development
and nuclear manufacturing in support of U.S. Navy training operations
and other naval nuclear-related programs.
“B&W NOG is pleased to continue its support of the U.S. Naval Reactors
Program with these three new contracts,” said Peyton S. Baker, President
of B&W NOG. “We realize the important role that B&W NOG’s unique
development and manufacturing capabilities play in supporting the men
and women who serve aboard the U.S. Navy’s fleet.”
B&W NOG offers a complete range of nuclear components and services,
including the manufacture of nuclear reactor components for U.S. Navy
submarines and aircraft carriers, as well as other nuclear and
non-nuclear R&D and component production. The company employs more than
3,900 people with operations in Virginia, Ohio, Indiana and a subsidiary
in Tennessee.
About B&W
Headquartered 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 12,700 people, in addition
to approximately 10,400 joint venture employees. Learn more at www.babcock.com.
Cautionary Statement Regarding Forward Looking Statements
B&W cautions that this release contains forward-looking statements,
including statements relating to the value, to the extent contract value
can be viewed as an indicator of future revenues, of the U.S. Naval
Reactors Program contracts. These forward-looking statements involve a
number of risks and uncertainties, including, among other things,
modification or termination of the contracts and adverse changes in U.S.
Government appropriations. If 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 its
annual report on Form 10-K for the year ended December 31, 2011. B&W
cautions not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof, and undertakes no
obligation to update or revise any forward-looking statement, except to
the extent required by applicable law.
Source: The Babcock & Wilcox Company
The Babcock & Wilcox Company
Media Contact:
Carla
Parks Wooley, APR, 434-522-5753
Manager, Employee Communications &
Public Relations
cjparks@babcock.com
or
Investor
Contact:
Michael P. Dickerson, 704-625-4944
Vice President
and Investor Relations Officer
investors@babcock.com
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