LYNCHBURG, Va., February 5, 2009
Babcock & Wilcox Nuclear Operations Group, Inc. (B&W NOG), a major operating unit of The Babcock & Wilcox Company (B&W), has received awards in excess of $1 billion for the manufacture of nuclear components to support U.S. defense programs, including the manufacture of U.S. Naval nuclear power systems for submarines and aircraft carriers.
This work is part of a previously negotiated and announced set of contracts that, if fully executed, will be worth more than $2.66 billion in revenue over 10 years. As a result of this increased workload, B&W NOG expects to hire an estimated 250 new salaried and hourly employees throughout three of its locations.
"We are extremely pleased with these new agreements and the continued growth of B&W's nuclear business segments and product line," said Brandon C. Bethards, chief executive officer of B&W. "The B&W team will continue to focus on providing a complete range of reliable, cost effective and technologically advanced nuclear products as we help our clients meet today's needs, as well as those of the future."
Headquartered in Lynchburg, Va. and with locations in Barberton, Ohio; Mount Vernon, Indiana; and Euclid, Ohio, as well as the newly acquired Nuclear Fuel Services, Inc. (NFS) in Erwin, Tenn., B&W NOG employs more than 3,800 people. Together, the facilities offer a complete range of nuclear components and services, from providing nuclear fuel and the manufacture of reactors for U.S. Naval submarines and aircraft carriers to other nuclear and non-nuclear R&D and component production. The company also performs plutonium and uranium decontamination and decommissioning, facility stabilization and nuclear materials management
The Babcock & Wilcox Company (B&W), a major operating group of McDermott International, Inc. [NYSE: MDR], is a leader in advanced energy technology innovation and service, primarily in nuclear and fossil power. Providing quality products and technical services to commercial and government customers, B&W is focused on issues such as energy efficiency, clean air, global market competitiveness, and safe and secure resolution for nuclear waste. B&W has locations worldwide and employs more than 20,000 people. The company is located on the Internet at www.babcock.com.
Carla J. Parks, APR
The Babcock & Wilcox Company