CHARLOTTE, N.C.--(EON: Enhanced Online News)--The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary, Babcock & Wilcox Nuclear Energy, Inc., will be providing inspection and repair services for a nuclear generating station in the United States that contains two B&W replacement recirculating steam generators.
“Our team continues to provide industry-leading innovation to offer utilities reductions in cost, dose and schedule during outages.”
B&W will provide recirculating steam generator primary and secondary inspection and repair services, which includes inspection of the steam generator tubing, inspection of the secondary side of the steam generator tubing, sludge lancing, enhanced sludge removal and analysis, and tube plugging and stabilizing.
“This contract represents a growing business opportunity for B&W, building on our extensive experience in the commercial nuclear industry,” said Joe Zwetolitz, President, Babcock & Wilcox Nuclear Energy, Inc. “Our team continues to provide industry-leading innovation to offer utilities reductions in cost, dose and schedule during outages.”
The contract, which is scheduled to run through October 2021, began in October of this year.
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 12,000 people, in addition to approximately 10,400 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 inspection and repair services contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, modification or termination of the contract and delays or other difficulties in executing 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, 2012 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.