The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary Babcock & Wilcox Nuclear Operations Group, Inc. (B&W NOG) has received two U.S. Naval Reactors Program contracts totaling approximately $36 million.
“The role that B&W’s unique capabilities play in preparing and supporting the men and women who serve aboard the U.S. Navy’s nuclear fleet is a source of immense pride for our workforce.”
The larger of the two awards, valued at approximately $32 million, is for the assembly of nuclear propulsion components for Virginia Class submarines. Work began in the fourth quarter of 2012 and will be performed at B&W’s Lynchburg, Va. facility over a four-year period.
Under the second contract, worth approximately $4 million, B&W will procure long-lead materials related to the manufacture of nuclear components for Virginia Class submarines.
“B&W is pleased to continue providing the U.S. Naval Reactors Program with products and services through these two new contracts,” said Peyton S. Baker, President of B&W NOG. “The role that B&W’s unique capabilities play in preparing and supporting the men and women who serve aboard the U.S. Navy’s nuclear fleet is a source of immense pride for our workforce.”
B&W offers a complete range of nuclear components and services, including the manufacture of nuclear reactor components for U.S. Navy submarines and aircraft carriers, as well as other nuclear and non-nuclear R&D and component production. The company employs more than 3,900 people with operations in Virginia, Ohio, Indiana and a subsidiary in Tennessee.
Source: Business Wire