Press Releases

B&W operations acquire Intech group of companies

LYNCHBURG, Va., July 15, 2008 The Babcock & Wilcox Company (B&W) operations have purchased the Intech group of companies, in a transaction completed July 10, 2008. The acquisition further expands the company's capabilities to serve the U.S. commercial nuclear service market, strengthen its position in the Canadian CANDU service market, and enhance its existing inspection services to fossil plant customers. Financial terms of the transaction are not being disclosed.

The Intech companies comprise Intech, Inc. and Ivey-Cooper Services, L.L.C., both located in Chattanooga, Tenn.; and Intech International Inc. located in Dundas, Ontario, Canada. Intech, Inc. provides nuclear inspection and maintenance services, primarily for the U.S. market. Intech will operate as a subsidiary of B&W Nuclear Power Generation Group, Inc. headquartered in Lynchburg, Va. Intech International provides nondestructive testing, field engineering and repair, and specialized tooling services primarily for the Canadian nuclear power generation industry. Intech International Inc. will operate as a subsidiary of Babcock & Wilcox Canada Ltd., located in Cambridge, Ontario, Canada. Ivey-Cooper Services provides nondestructive inspection services to fossil-fueled power plants as well as chemical, pulp and paper, and heavy fabrication facilities. Ivey-Cooper will operate as a subsidiary of B&W Power Generation Group, Inc. headquartered in Barberton, Ohio.

"The acquisition of the Intech group of companies aligns with B&W's growth strategy and supports our vision to enhance our level of service we provide to our nuclear and fossil customers," said John A. Fees, B&W Chief Executive Officer.

"The Intech companies are a natural fit into our organization and we welcome them into our operations. B&W is committed to continue delivering the same level of service to Intech's customers as they have come to expect," Fees continued.

Operating as subsidiaries of B&W, the Intech group of companies will continue using their existing names and brands.

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.

###

Feedback