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Babcock & Wilcox Enterprises Announces Board Changes, Reflecting Improved Operational Stability and New Market-Focused Initiatives
September 3, 2020
Three new independent directors join Board of Directors Chief Executive Officer Kenneth Young and Chief Strategy Officer Henry Bartoli also join Board New directors are part of a well-planned transition and strategic shift to accelerate growth in light of improved operational stability Five directors have retired, and the new Board is comprised of six members with four serving independently Kenneth Young succeeds Matthew Avril as Chairman of the Board and current director Alan Howe named Lead Independent Director Company to host conference call today to discuss the Board changes and provide an...
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Babcock & Wilcox Announces European Growth
September 2, 2020
Gary Cochrane Named Managing Director High-Growth Region Has $7 Billion Addressable Market (AKRON, Ohio – September 2, 2020) – Babcock & Wilcox (B&W) (NYSE: BW) announced today that it is continuing to expand its presence in Europe to support the growth of its three business segments – B&W Renewable, B&W Environmental and B&W Thermal. Gary Cochrane has been named Managing Director of its European region and will lead the company’s efforts to leverage its established offices, manufacturing facilities and operations in the U.K., Germany, Denmark, Italy and Sweden to expand its footprint ...
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Babcock & Wilcox Announces Asia Pacific Growth
September 2, 2020
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.
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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.
Babcock & Wilcox Enterprises to Present at 9th Annual Gateway Conference on September 10, 2020
September 1, 2020
AKRON, Ohio, September 1, 2020 — Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE: BW) has been invited to present at the 9th Annual Gateway Conference, which is being held virtually on September 9-10, 2020.
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Babcock & Wilcox Continues Middle East Expansion
August 31, 2020
• Opens Dubai Headquarters for its Middle East Operations
• Names Wassim Moussaoui Managing Director (AKRON, Ohio – August 31, 2020) – Babcock & Wilcox (B&W) (NYSE: BW) continued its expansion into the Middle East and Africa with the formation of Babcock & Wilcox Middle East Holdings, Ltd. and the opening of a headquarters in Dubai, United Arab Emirates for this business. Concurrent with this announcement, Wassim Moussaoui has been named Managing Director, B&W Middle East Holdings.
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• Names Wassim Moussaoui Managing Director (AKRON, Ohio – August 31, 2020) – Babcock & Wilcox (B&W) (NYSE: BW) continued its expansion into the Middle East and Africa with the formation of Babcock & Wilcox Middle East Holdings, Ltd. and the opening of a headquarters in Dubai, United Arab Emirates for this business. Concurrent with this announcement, Wassim Moussaoui has been named Managing Director, B&W Middle East Holdings.
Babcock & Wilcox Environmental to Supply Technology to Help Power Plants Meet Ash-Handling Environmental Requirements
August 27, 2020
Patented Submerged Grind Conveyor technology is an innovative solution for bottom ash removal and reduced water use (AKRON, Ohio – August 27, 2020) – Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Environmental segment will supply its innovative, patented Allen-Sherman-Hoff® Submerged Grind Conveyor technology to help a customer meet U.S. Environmental Protection Agency rules for the handling of ash from power plants.
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Babcock & Wilcox Enterprises Reports Second Quarter 2020 Results, Launches Strategic Organizational and Branding Initiative
August 12, 2020
Second Quarter 2020 Overview:
- Consolidated revenues were $135.4 million; COVID-19 negatively impacted all segments by delaying anticipated projects
- GAAP consolidated operating loss was $7.7 million; GAAP loss from continuing operations was $18.1 million, a $10.2 million improvement compared to second quarter 2019
- Consolidated adjusted EBITDA was $1.4 million
- The Babcock & Wilcox segment reported adjusted EBITDA margin of 9.1% as compared to 9.5% in second quarter 2019, while segment adjusted gross profit margin improved to 27.9% compared to 18.8% in second quarter 2019
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- Consolidated revenues were $135.4 million; COVID-19 negatively impacted all segments by delaying anticipated projects
- GAAP consolidated operating loss was $7.7 million; GAAP loss from continuing operations was $18.1 million, a $10.2 million improvement compared to second quarter 2019
- Consolidated adjusted EBITDA was $1.4 million
- The Babcock & Wilcox segment reported adjusted EBITDA margin of 9.1% as compared to 9.5% in second quarter 2019, while segment adjusted gross profit margin improved to 27.9% compared to 18.8% in second quarter 2019
Babcock & Wilcox to Webcast Discussion of Its Second Quarter 2020 Results
August 6, 2020
(AKRON, Ohio – August 6, 2020) – Babcock & Wilcox Enterprises, Inc. (NYSE:BW) (B&W or the “Company”) expects to host a conference call and webcast on Thursday, August 13, 2020 at 5 p.m. ET.
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Babcock & Wilcox to Install Efficiency-Improving Technology for Oil Sands Boilers
July 27, 2020
(AKRON, Ohio – July 27, 2020) – Babcock & Wilcox Enterprises, Inc. (NYSE: BW) announced today that it continues to expand its role in the petrochemical industry with a contract to install new economizers for two B&W TSSGTM natural gas-fired boilers at an oil sands project in Alberta, Canada. The project, which was awarded to a subsidiary, is valued at more than $4 million.
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Babcock & Wilcox Awarded $30 Million Boiler Component Contract
July 23, 2020
(AKRON, Ohio – July 23, 2020) – Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE: BW) announced today that its subsidiary, The Babcock & Wilcox Company, has been awarded a contract for approximately $30 million to supply replacement boiler components for an energy production facility.
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B&W SPIG Awarded Air-Cooled Condenser Retrofit Contract for Renewable Energy Plant in France
June 4, 2020
(PARUZZARO, Italy – June 4, 2020) –SPIG S.p.A. (SPIG), a subsidiary of Babcock & Wilcox Enterprises, Inc.(“B&W”), has been awarded a contract by SUEZ RV Energie to upgrade an air-cooled condenser for its waste-to-energy plant at the FENIIX site in Rambervillers, France.
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B&W Completes Two-Year Financing Agreement and Credit Extension
May 14, 2020
- Extends current revolving credit facility and availability for letters of credit for two years
- Strengthens capital structure in support of the Company’s long-term operations
(AKRON, Ohio – May 14, 2020) – Babcock & Wilcox Enterprises, Inc. (NYSE: BW) (“B&W”) announced today that the Company has amended its Credit Agreement, which amendment replaces and supersedes the previously disclosed agreement to refinance the Company’s senior debt by May 15, 2020, among other things. Under the terms of the amended Credit Agreement, the Company's current revolving credit facility and availa...
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- Strengthens capital structure in support of the Company’s long-term operations
(AKRON, Ohio – May 14, 2020) – Babcock & Wilcox Enterprises, Inc. (NYSE: BW) (“B&W”) announced today that the Company has amended its Credit Agreement, which amendment replaces and supersedes the previously disclosed agreement to refinance the Company’s senior debt by May 15, 2020, among other things. Under the terms of the amended Credit Agreement, the Company's current revolving credit facility and availa...