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B&W Announces Environmental Equipment Contracts For AEP Plants
(CHARLOTTE, N.C. – January 21, 2014) – The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary Babcock & Wilcox Power Generation Group, Inc. (B&W PGG) has been awarded contracts totaling more than $40 million for environmental control equipment at two American Electric Power (AEP) coal-fired power plants in Oklahoma and Texas.
Under the contracts, B&W PGG will engineer and supply a fabric filter for particulate emissions control for AEP Public Service Company of Oklahoma’s Northeastern Station Unit 3 near Oologah, Okla., and two fabric filters for AEP Southwestern Electric Power Company’s Welsh Power Plant Units 1 and 3, near Pittsburg, Texas.
“We value our long-standing relationship with AEP and appreciate the confidence they’ve shown in B&W PGG with the awarding of these contracts,” B&W PGG President and Chief Operating Officer J. Randall Data said. “B&W PGG’s fabric filters are part of a complete range of solutions available to help our customers with their emissions regulation compliance needs.”
Material delivery for Northeastern Unit 3 is scheduled for mid-2014. Materials for Welsh are scheduled for delivery in 2014 and 2015.
Headquartered in Charlotte, N.C., The Babcock & Wilcox Company is a leader in clean energy technology and services, primarily for the nuclear, fossil and renewable power markets, as well as a premier advanced technology and mission critical defense contractor. B&W has locations worldwide and employs approximately 12,000 people, in addition to approximately 10,400 joint venture employees. Learn more at www.babcock.com.
Cautionary Statement Regarding Forward Looking Statements
B&W cautions that this release contains forward-looking statements, including statements relating to the value, scope and timing associated with the AEP contracts, to the extent such statements may be viewed as an indicator of future revenues. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties in executing the AEP contracts and adverse modifications to the contracts, including termination. If one or more of these or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, please see B&W’s filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2012 and subsequent quarterly reports on Form 10-Q. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.