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BW to Supply Natural Gas Boilers to Virginia Manufacturing Facility
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 a contract to design and supply FM water tube package boilers to engineering and construction firm Black & Veatch for a project at a manufacturing facility in Virginia.
Each FM water tube package boiler will supply steam for power generation and industrial processes at Celanese Corporation's manufacturing facility in Narrows, Va. The dual fuel boilers, which can operate using either natural gas or oil, will replace coal-fired units currently used at the plant.
"B&W PGG's FM water tube package boilers are a reliable and low-cost-of-operation solution for industrial, commercial and utility applications," said B&W PGG President and Chief Operating Officer J. Randall Data. "We appreciate the opportunity to work with Black & Veatch and Celanese on this project."
Boiler components will be manufactured in B&W PGG's West Point, Miss. facility.
Material delivery is scheduled for April 2014.
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 14,000 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 scope and timing, to the extent scope and timing may be viewed as an indicator of future revenues, of the package boiler contract with Black & Veatch. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties executing contracts and adverse modifications to contracts in backlog, 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 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 this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.