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BWX Technologies
BWXT Awarded CA$55 Million Contract for Feeder Supply in Support of OPG's Darlington Refurbishment



April 19, 2017

BWX Technologies, Inc. (NYSE:BWXT) announced that its subsidiary BWXT Canada Ltd. (BWXT Canada) has been awarded a feeder manufacturing contract from the SNC-Lavalin / Aecon joint venture (JV) valued at approximately CA$55 million. The feeders will be supplied to Ontario Power Generation (OPG) Darlington's Units 1, 3 and 4 reactors as part its refurbishment project.

Feeder pipes in CANDU® reactors transport heavy water coolant between the reactor and steam generators. The feeders will be manufactured at BWXT Canada's Cambridge, Ontario facility. The project duration will be approximately five years.

"We appreciate the opportunity to continue to manufacture these critical components in support of the Darlington Refurbishment Project," said John MacQuarrie, President of BWXT Canada. "This contract will allow us to sustain high-skilled, high-paying jobs while contributing to clean, affordable, safe and reliable power for Ontarians."

"BWXT has done a great job delivering for Darlington Unit 2," said Preston Swafford, Chief Nuclear Officer and Executive Vice-President, Nuclear, SNC-Lavalin on behalf of the JV. "We have great confidence that they will continue to do so for the remaining Darlington units."

BWXT Canada has an existing contract with the JV to manufacture feeder assemblies for OPG Darlington's Unit 2 and will commence work for Units 1, 3 and 4 immediately.

"Darlington Refurbishment benefits communities across the province and is an investment in Ontario's future," said Dietmar Reiner, OPG's Senior Vice President for Refurbishment. "This work will ensure that Darlington Nuclear will continue to produce about 20 percent of the province's electricity. That's enough to power two million homes each day or a city the size of Toronto."

OPG's $12.8 billion investment in Darlington Nuclear Station began last October and is Canada's largest clean energy project. Between 2016 and 2025, the Conference Board of Canada estimates the refurbishment's construction phase alone is expected to generate $14.9 billion in economic benefits to Ontario. At its peak, refurbishment will create 11,700 jobs per year, with an average of 8,800 annually between 2014 and 2023. The Darlington Refurbishment is a made-in-Ontario project. BWXT Canada is one of many specialized companies across Ontario directly engaged in the massive undertaking with approximately 96 percent of the project's suppliers based in Ontario.

"BWXT Canada is not only a world-class operation, but a made-in-Ontario success story. This contract is part of the significant economic activity the Darlington refurbishment is generating in Cambridge and across the province," said Glenn Thibeault, Ontario's Minister of Energy. "Ontario's nuclear energy sector, including companies like BWXT, supports nearly 70,000 jobs and are providing us with the technical expertise we need to build the clean, low-carbon economy of tomorrow."

Forward Looking Statements

BWXT cautions that this release contains forward-looking statements, including statements relating to the timing and value, to the extent either may be viewed as an indicator of future revenues, of the feeder manufacturing contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties in the commencement or execution of the contract, 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 in this release. 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 Canada Ltd.

BWXT Canada Ltd. (BWXT Canada) has over 60 years of expertise and experience in the design, manufacturing, commissioning and service of nuclear power generation equipment. This includes CANDU ® and Pressurized Water Reactor steam generators, nuclear fuel and fuel components, critical plant components, parts and related plant services. Headquartered in Cambridge, Ontario, BWXT Canada has approximately 850 employees at locations in Cambridge, Peterborough, Toronto and Arnprior, Ontario. BWXT Canada is a subsidiary of BWX Technologies, Inc. (NYSE:BWXT). BWXT is a leading supplier of nuclear components and fuel to the U.S. government; provides technical, management and site services to support governments in the operation of complex facilities and environmental remediation activities; and supplies precision manufactured components, fuel and services for the commercial nuclear power industry.

For more information:

Organization:
BWX Technologies, Inc.
www.bwxt.com

Contact:
Alan Nethery
Vice President, Investor Relations
Tel: 980-365-4300
E-mail: manethery@bwxt.com

Contact:
Natalie Cutler, Media Relations
BWX Technologies, Inc.
Tel: 519-620-5288
E-mail: nacutler@bwxt.com


Link http://www.electricenergyonline.com/detail_news.php?ID=632925
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