June 19, 2014
The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced 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.
Utilizing proven, state-of-the-art robotic tooling and inspection technology, B&W NE will provide eddy current testing, visual inspections and water lancing for steam generators in a total of six units, two at each of the power plants. B&W NE's recognized technology provides the industry with a cost-effective solution with low dose rates and short outage schedules.
'We look forward to providing the Dominion fleet with exceptional steam generator inspection and repair services,' said Joe Zwetolitz, President, B&W NE. 'Our demonstrated technology and expertise set the B&W team apart in the nuclear industry.'
The steam generator services contract will begin this fall.
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 11,000 people, in addition to approximately 10,200 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 the performance and timing, to the extent either can be viewed as an indicator of future revenues, of the Dominion contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties in contract execution, or modification or termination of the contract. 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 B&W's annual report on Form 10-K for the year ended December 31, 2013 and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. B&W 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.
For more information:
Babcock and Wilcox Company
13024 Ballantyne Corporate Place, Suite 700
Charlotte, North Carolina
United States, 28277
Contact person: Aimee Mills, Media Relations Lead
The Babcock & Wilcox Company
Contact person: Jenny Apker
Vice President, Treasurer and Investor Relations