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BWXT Joint Venture Awarded Three-Year, $928 Million Contract Extension

28 September 2017

(LYNCHBURG, Va. – September 28, 2017) – BWX Technologies, Inc. (NYSE:BWXT) announced today that its Nuclear Waste Partnership LLC (NWP) joint venture between its subsidiary BWXT Technical Services Group, Inc. and lead partner AECOM has been awarded a three-year extension to its management and operations contract at the U.S. Department of Energy’s Waste Isolation Pilot Plant (WIPP) near Carlsbad, New Mexico.

With an expected value of approximately $928 million, the modification extends NWP’s contract through September 30, 2020, with the potential for an additional two-year option. The extended contract enhances the focus on safety, provides cost incentives designed to increase value to taxpayers, rewards the workforce for safe and efficient operations, and provides greater support to the Carlsbad-area community.

WIPP is the nation’s only facility for deep geological disposal of transuranic radioactive waste as by-products of nuclear weapons production and disassembly.

“BWXT is very pleased to continue our work with AECOM at this important DOE facility,” said Rex D. Geveden, BWXT’s President and Chief Executive Officer. “BWXT’s nuclear operations capability is a natural fit for a site like WIPP, and we look forward to applying that experience and expertise in making additional operational and safety enhancements in the next three years.”

BWXT is a partner in joint ventures serving the DOE and National Nuclear Security Administration at more than a dozen locations around the country, including Savannah River Site, Los Alamos National Laboratory, Paducah Gaseous Diffusion Plant and Idaho National Laboratory.

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 WIPP extension and option. 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, 2016 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

Headquartered in Lynchburg, Va., BWX Technologies, Inc. (NYSE:BWXT) is a leading supplier of nuclear components and fuel to the U.S. government; provides technical and management services to support the U.S. government in the operation of complex facilities and environmental remediation activities; and supplies precision manufactured components, services and fuel for the commercial nuclear power industry. With approximately 6,000 employees, BWXT has nine major operating sites in the U.S. and Canada. In addition, BWXT joint ventures provide management and operations at more than a dozen U.S. Department of Energy and two NASA facilities. Follow us on Twitter @BWXTech and learn more atwww.bwxt.com.

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Media Contact                                                                                                    
Jud Simmons                                                                                                      
Director, Media & Public Relations                                                                                                 
434.522.6462                                                                                                      
hjsimmons@bwxt.com                                                                                     

Investor Contact               
Alan Nethery                                                       
Vice President and Chief Investor Relations Officer   
980.365.4300
investors@bwxt.com