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B&W Evaluating a Separation of its Businesses

01 October 2014

(CHARLOTTE, N.C. – October 1, 2014) – The Babcock & Wilcox Company (B&W) (NYSE:BWC)  today announced that its Board of Directors is evaluating the separation of the Company’s Power Generation Business and Government & Nuclear Operations Business into two publicly traded companies. The Board’s goal is to determine whether a separation creates the opportunity for enhanced shareholder value and business focus. B&W has retained JPMorgan as its financial advisor and Wachtell, Lipton, Rosen & Katz and Jones Day as legal advisors to assist in this process.

B&W noted that there can be no assurance that a separation will occur or, if a separation is approved, its terms or timing.  Additional detail will be provided on the Company’s third quarter 2014 earnings call in early November.

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 11,600 people, in addition to joint venture employees throughout the world. Learn more at www.babcock.com.

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Media Contact:
Aimee Mills
Media Relations Lead
The Babcock & Wilcox Company
980.365.4583
aemills@babcock.com

Investor Contact:
Jenny Apker
Vice President, Treasurer and Investor Relations
The Babcock & Wilcox Company
704.625.4937
investors@babcock.com

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