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Babcock & Wilcox Announces Asia Pacific Growth
- Opens Region Headquarters in Perth, Australia
- Nick Carter Named Managing Director
- High-Growth Region Has $8 Billion Addressable Market
(AKRON, Ohio – September 2, 2020) – Babcock & Wilcox (B&W) (NYSE: BW) announced today that it is establishing its Asia-Pacific Region headquarters in Perth, Australia, to serve as the center of operations for its expansion in the Asia-Pacific market. B&W has named Nick Carter as Managing Director of the region.
The company also is establishing or expanding operations in Indonesia, the Philippines, Vietnam, Thailand, China, India and other countries. B&W’s three business segments – B&W Environmental, B&W Renewable and B&W Thermal – will draw on the resources of these operations to meet the needs of customers throughout the Asia-Pacific region.
“There is significant demand for clean energy, waste-to-energy, emissions and environmental controls, and advanced thermal energy solutions in the Asia-Pacific region. Establishing a strong presence in this region, along with a key management and operations team, is an important next step for Babcock & Wilcox,” said B&W Chief Executive Officer Kenneth Young. “B&W Environmental, B&W Renewable and B&W Thermal offer comprehensive, industry-leading technologies and equipment, parts, plant maintenance and other services that are well-known and respected throughout the Asia-Pacific region, which we estimate has an addressable market of nearly $8 billion over the next three years.”
“Under Nick Carter’s experienced, skilled leadership, we are already seeing signs of success as the energy demands and environmental mandates within this region are expanding exponentially,” Young said.
Carter has considerable experience within the power generation sector, including more than 20 years in South America and the Asia-Pacific region delivering major power generation projects. Carter began his career with Bechtel Corporation and joined B&W in 1980, and subsequently held a number of international positions of increasing responsibility including managing large power generation projects, and serving as Director, International Sales and Business Development for the Asia-Pacific region. Between 2008 and 2014, he served as President of NixEnergy Inc. and as Vice President of Business Development for Kiewit Energy Group Inc., before rejoining B&W in 2014. Carter is a graduate of Auckland Technical Institute (AIT), New Zealand, and Petone Institute of Technology.
B&W’s focus for the Asia-Pacific region will include upgrades, parts, equipment and other services to customers in the renewable, environmental and thermal markets, including to under-serviced local markets and the pulp & paper and petrochemical sectors.
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 Twitter @BabcockWilcox and learn more at www.babcock.com.
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the company’s plan to expand its presence in throughout the Asia-Pacific region in support of the growth of its three business segments – B&W Renewable, B&W Environmental and B&W Thermal. 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.