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BWXT Awarded CA$18.6 Million Contract for Nuclear Power Plant Tube Fabrication

02 February 2018

(PETERBOROUGH, Ontario – February 2, 2018) – BWX Technologies, Inc. (NYSE:BWXT) announced today that its subsidiary BWXT Nuclear Energy Canada Inc. (BWXT NEC) has been awarded a CA$18.6 million, four-year contract to manufacture zircaloy-4 seamless tubes for Societatea Nationala Nuclearelectrica SA (SNN), which operates the Cernavoda Nuclear Power Plant in Romania.

“This contract is an important win for us because it demonstrates BWXT’s international competiveness in the CANDU segment,” said John MacQuarrie, President of BWXT Canada Ltd. and BWXT NEC. “We have decades of experience in producing tubing that meets the nuclear industry’s rigorous requirements, and we are proud to be supplying our high-quality product to SNN.”

The zircaloy-4 seamless tubes are used in the production of CANDU® fuel at the Nuclear Fuel Factory located in Mioveni, Arges District, Romania, subsidiary of Nuclearelectrica. The zircaloy-4 seamless tubes will be produced at BWXT’s Arnprior, Ontario tubing operation. BWXT has been producing tubes for CANDU® fuel for over 40 years and is a qualified supplier to Canadian and international markets.

BWXT NEC, a subsidiary of BWXT Canada Ltd., has more than 60 years of extensive experience and innovation in the supply of nuclear fuel and fuel channel components, services, equipment and parts for the CANDU® nuclear power industry. This includes designing and supplying highly reliable nuclear equipment to fuel, inspect and refurbish reactors. BWXT NEC employs approximately 350 skilled employees at three locations in Ontario: Peterborough, Toronto and Arnprior. Learn more at www.nec.bwxt.com.

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 SNN contract. 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 6,100 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 at www.bwxt.com.

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Media Contact  
Sara Forsey
Community Relations and Communications Manager 
BWXT Nuclear Energy Canada
705.927.0429
sforsey@bwxt.com

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

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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.

Sara Forsey 
+1 705.927.0429 
sforsey@bwxt.com 

Nuclear Fuel Services, Inc.

Laura Bailey 
+1 423.743.9141
lebailey@nuclearfuelservices.com