Warning: Javascript must be enabled within your browser's settings for this site to function properly.

Your browser appears to be out of date, and is not supported by this site. For the best experience, we recommend that you upgrade to a more modern browser. You can find a list of modern browsers from www.browsehappy.com.

We use technical and analytics cookies data to ensure that we give you the best experience on our website. For more information visit our Privacy Page.

TwitterFacebookLinkedInYouTube
People Strong - Innovation Driven

News

B&W Announces $600 Million Order Under Naval Nuclear Reactor Components Contract

09 February 2012

The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary, Babcock & Wilcox Nuclear Operations Group, Inc. (B&W NOG), received its second release under the $2 billion contract awarded in 2010. The $600 million order was funded in the fourth quarter of 2011 and is for the manufacture of nuclear components to support U.S. defense programs including the manufacture of naval nuclear power systems for submarines and aircraft carriers. Combined with the annual award for naval nuclear fuel announced during the fourth quarter, B&W NOG reported total fourth-quarter bookings of $777.6 million, and ended 2011 with total backlog of approximately $3.0 billion.

Work will be performed at B&W NOG's Lynchburg, Va., Barberton and Euclid, Ohio and Mt. Vernon, Ind. facilities over an eight-year period, beginning in January 2012.

"We are pleased to receive this additional work and continue B&W's ongoing support of U.S. defense programs," said Peyton S. Baker, President of B&W NOG. "We look forward to continuing to provide reliable and technologically advanced nuclear products that play an important role in our nation's security."

B&W NOG offers a complete range of nuclear components and services, including the manufacture of nuclear reactor components for U.S. Naval submarines and aircraft carriers and other nuclear and non-nuclear R&D and component production. The organization 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 backlog, to the extent backlog may be viewed as an indicator of future revenues, and performance of work under the order. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties executing on our contracts in backlog and modifications of the Government contract. If one or more of these or other risks materialize, actual results may vary materially from those expected. 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, 2010 and subsequent quarterly reports on Form 10-Q. 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.

Archive

Tags

Press Contacts:

BWX Technologies, Inc.

Jud Simmons 
+1 434.522.3800
hjsimmons@bwxt.com

BWXT Canada Ltd.  

Natalie Cutler 
+1 519.620.5288 
nacutler@bwxt.com 

BWXT Nuclear Energy Canada Inc.

Natalie Cutler
+1 519.620.5288  
nacutler@bwxt.com 

Nuclear Fuel Services, Inc.

Laura Bailey 
+1 423.743.9141
lebailey@nuclearfuelservices.com