B&W to Acquire GE Energy's Electrostatic Precipitator and Emissions Monitoring Businesses
BARBERTON, Ohio, March 15, 2010
Babcock & Wilcox Power Generation Group, Inc. (B&W PGG) has signed a contract with GE Energy, a division of General Electric Company, to acquire its electrostatic precipitator (ESP) and emissions monitoring business units. B&W PGG is an operating unit of The Babcock & Wilcox Company.
Under the terms of the transaction, B&W PGG will acquire the assets of GE Energy's ESP and emissions monitoring business units, including its ESP replacement parts and mechanical components product lines, ESP performance-enhancing hardware and controls, continuous emissions monitoring systems (CEMS), data acquisition and handling system (DAHS), as well as the ESP and emissions monitoring remote diagnostics and services offerings. These products and services are used by a wide variety of power generation and industrial customers to monitor and control particulates and other emissions from power plants, factories and other facilities.
GE Energy's ESP and emissions monitoring businesses employ approximately 220 people at offices in Kansas City, Mo., Folkston, Ga., Newport News, Va. and Hatfield, Pa., in the United States, as well as locations globally. Employees will transition to B&W PGG in the coming months.
"This acquisition enhances B&W PGG's already strong environmental equipment and services capabilities," said B&W PGG President and Chief Operating Officer Richard L. Killion. "We're confident the knowledge and experience of these highly-skilled employees and the ability to offer new products and services to current and prospective customers will be a valuable addition to our strategic growth plan."
The deal is expected to close following the satisfaction of customary closing conditions. Financial terms of the agreement were not disclosed.
About The Babcock & Wilcox Company
The Babcock & Wilcox Company (B&W), a subsidiary of McDermott International, Inc., 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.
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