Third Quarter 2014 Results
- Record Third Quarter Revenue for Nuclear Operations Segment - Power Generation Revenue and Operating Margin Improving - Raises Lower End of 2014 Adjusted EPS Range to $1.75 to $1.85 - Separately Announced Planned Spin-off of Power Generation Business
B&W Evaluating a Separation of its Businesses
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 Previews New South Florida Waste-to-Energy Plant For Congressman Patrick Murphy
The Babcock & Wilcox Company (B&W) (NYSE: BWC) today hosted Congressman Patrick Murphy (D-FL-18) for a tour of the Solid Waste Authority of Palm Beach County Renewable Energy Park, including the country’s first new waste-to-energy (WtE) plant to be built since 1995. As a reliable and non-intermittent source of renewable energy with the most modern environmental control equipment, WtE technology is poised to be a much larger part of America’s energy mix, particularly in the context of the EPA’s new rules on carbon emissions from power plants.
B&W Awarded Construction Contract For AEP SWEPCO Power Plant in Arkansas
The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that Babcock & Wilcox Construction Co., Inc. (BWCC), a subsidiary of Babcock & Wilcox Power Generation Group, Inc. (B&W PGG), has been awarded a contract to erect a dry flue gas desulfurization (FGD) unit at Southwestern Electric Power Co.’s (SWEPCO) Flint Creek Power Plant in Gentry, Ark.
B&W Vølund Signs $80 Million Contract to Build Biomass Power Plant in Denmark
The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that Babcock & Wilcox Vølund A/S (B&W Vølund), a subsidiary of Babcock & Wilcox Power Generation Group, Inc. (B&W PGG), has been awarded a contract for more than $80 million to build a 280 megawatt-thermal (MWth) biomass boiler system for the Skærbækværket power plant near Fredericia, Denmark.
B&W Awards Scholarships to 12 Outstanding Local Students
The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that 12 high school students who have a parent working for B&W were selected to receive college scholarships.
B&W Awarded Contract For Dominican Republic Coal-Fired Boiler Project
The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary, Babcock & Wilcox Power Generation Group, Inc. (B&W PGG), has been awarded a contract to design and manufacture two coal-fired boilers to be installed in the Punta Catalina Power Plant for Corporación Dominicana de Empresas Eléctricas Estatales (CDEEE) in the Dominican Republic.
B&W Announces Completion of Acquisition of Industrial Products and Services Firm MEGTEC
The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary, Babcock & Wilcox Power Generation Group, Inc. (B&W PGG), has completed the acquisition of MEGTEC, a De Pere, Wis.-headquartered industrial processes solutions provider, based on an enterprise value of $155 million, subject to adjustments.
B&W Awarded Steam Generator Services Contract for Dominion Fleet
The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary, Babcock & Wilcox Nuclear Energy, Inc. (B&W NE), was awarded a multi-year fleet services contract from Dominion Generation to provide comprehensive steam generator inspection, repair and cleaning services for the company’s three operating nuclear stations – North Anna in Mineral, Va; Surry in Surry, Va; and Millstone in Waterford, Conn.
B&W's New Innovative Nuclear Inspection Robot Earns Industry Qualifications
Babcock & Wilcox Nuclear Energy, Inc.(B&W Nuclear Energy), a subsidiary of The Babcock & Wilcox Company (B&W) (NYSE:BWC), has earned the qualifications necessary to use its ARCHER™ robot, designed by INETEC, to perform inspections on nuclear reactor vessel closure heads.