B&W Thermal Awarded $20 Million Installation Contract to Upgrade and Extend Lifespan of Power Plant

December 02, 2020

(AKRON, Ohio – December 2, 2020) – Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Thermal segment will install replacement boiler pressure parts for a power plant in North America. The contract, valued at more than $20 million, was awarded to B&W’s subsidiary, Babcock & Wilcox Construction Co., LLC (BWCC).

Under this contract, BWCC will install new superheater sections and furnace panels, some of which were designed and supplied by B&W under a previous contract, to help extend the life of the plant’s operations.

“B&W Thermal has unmatched experience with installing equipment to maintain and extend the operable lifespan of boilers and other equipment for the North American power fleet,” said B&W Chief Operating Officer Jimmy Morgan. “Whether installing or servicing B&W’s or our competitors’ equipment, we have the resources and knowledge to respond to customers’ needs and deliver reliable solutions.”

“As many of our competitors have stepped back from providing cost-effective plant maintenance and upgrades, B&W Thermal has stepped up to continue supplying these critically important services. We are seeing increasing demand from our customers as they plan long-term strategies in upgrading or converting technologies,” Morgan said.

Installation is scheduled to begin in February 2021, with completion anticipated later in the spring.

B&W Thermal is a single-source turnkey supplier of a full range of field construction, construction management and maintenance services. With significant experience with a wide range of projects — from large, complex projects to small unanticipated quick turnaround repair needs — B&W Thermal has the depth of knowledge and responsiveness necessary to safely deliver dependable services of any size at any facility.

About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on LinkedIn and learn more at www.babcock.com.    

About B&W Thermal
Babcock & Wilcox Thermal designs, manufactures and erects steam generation equipment, aftermarket parts, construction, maintenance and field services for plants in the power generation, oil & gas, and industrial sectors. Babcock & Wilcox Thermal has an extensive global base of installed equipment for utilities and general industrial applications including refining, petrochemical, food processing, metals and more.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the execution and completion of a contract to install replacement boiler pressure parts for a power plant in North America. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

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