Press Releases

B&W announces new company structure and name change, including the realignment of nuclear power resources and a new corporate brand

LYNCHBURG, Va., November 27, 2007 Effective immediately The Babcock & Wilcox Companies will change its name to The Babcock & Wilcox Company (B&W), reorganize its operations into four groups including the newly formed nuclear power group and launch a new brand identity.

The realignment of the company's operations will better support the changing requirements of B&W customers and strengthen the company's position in the nuclear and fossil power generation industry and in national security operations.

"Moving forward, we will be better able to leverage our product and service offerings, particularly in the expanding nuclear power sector, and to pool our vast resources to play a major role in this growing market," said John A. Fees, Chief Executive Officer of B&W. "We will also be better positioned to lead the development of new clean coal and carbon capture technologies, taking advantage of our considerable research and engineering expertise.

"Our vision is to be the preferred global leader excelling in the delivery of advanced energy and operational solutions," Fees continued. "The Babcock & Wilcox Company is committed to developing new technologies that address tomorrow's energy demands without negatively impacting the environment. B&W has been a global front-runner in energy innovation for more than a century, and we will continue to maintain that tradition of excellence for our customers worldwide."

Formation of commercial nuclear power subsidiary
B&W has formed a new subsidiary, Babcock & Wilcox Nuclear Power Generation Group, Inc. (B&W NPG) that has aligned the resources and capabilities of the overall company to provide nuclear power plant products, services and construction for utilities worldwide. Headquartered in Lynchburg, Va., B&W NPG will strategically focus on the current and future needs of existing nuclear plants and provide capabilities to support the build of new plants. B&W NPG primary capabilities include design engineering, manufacturing, field service and construction. Richard E. Reimels, former president of Babcock & Wilcox Canada Ltd., is named president of B&W NPG.

Primary B&W subsidiaries renamed
In addition to forming B&W NPG, B&W has renamed its other major operating units:

Babcock & Wilcox Power Generation Group, Inc. (B&W PGG), headquartered in Barberton, Ohio, focuses on providing steam generating equipment and emissions control systems for utilities and industries worldwide, as well as services and parts for the existing fleet of fossil-fueled power plants. B&W PGG was formerly The Babcock & Wilcox Company. Brandon C. Bethards is president and chief operating officer of B&W PGG.

Babcock & Wilcox Technical Services Group, Inc. (B&W TSG), headquartered in Lynchburg, Va., provides management, operational and technical services for government and industry customers, which include the Department of Energy and National Nuclear Security Administration. The subsidiary was formerly known as BWXT Services, Inc. S. Robert Cochran continues to serve as president.

Babcock & Wilcox Nuclear Operations Group, Inc. (B&W NOG), also headquartered in Lynchburg, Va., specializes in design engineering and manufacturing of nuclear components for the U.S. government. The organization was previously known as BWX Technologies Nuclear Operations Division, headed by Winfred D. Nash. Nash is named president of B&W NOG.

New brand identity launched
Emphasizing the strength and breadth of B&W's consolidated operations and capabilities, the company has unveiled a new, progressive corporate logo that serves as the company's brand identity and will be used throughout the company and its subsidiaries. In addition to the new logo and associated brand materials, B&W has also redesigned its Web site at www.babcock.com. Additional information about the company, its products, services, and industries served, as well as market literature, historical information and more, is available on the Web site.

The Babcock & Wilcox Company is a subsidiary of McDermott International, Inc., an engineering and construction company with specialty manufacturing and service capabilities focused on energy infrastructure. McDermott's customers are predominantly utilities and other power generators, major and national oil companies, and the U.S. government. The Babcock & Wilcox Company is located on the Internet at www.babcock.com.

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