B&W announces $510 million in contracts supporting U.S. Naval nuclear programs

Wednesday, Feb 06, 2013

The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary, Babcock & Wilcox Nuclear Operations Group, Inc. (B&W NOG), was awarded contracts totaling more than $510 million for the manufacture of nuclear components to support U.S. defense programs including the manufacture of naval nuclear power systems for submarines and aircraft carriers. The entire amount was appropriated in the fourth quarter of 2012.

“B&W NOG is pleased to continue to provide components and services to the U.S. Naval Reactors Program through these new contracts”

Of this work, more than $445 million was issued as options under the $2 billion contract awarded to B&W NOG in 2010 and more than $65 million is issued under a new agreement awarded for fiscal year 2013.

Work will be performed at B&W NOG's Lynchburg, Va., Barberton and Euclid, Ohio and Mt. Vernon, Ind. facilities over an eight-year period, beginning January 2013.

“B&W NOG is pleased to continue to provide components and services to the U.S. Naval Reactors Program through these new contracts,” said Peyton S. Baker, President of B&W NOG. “We are honored to have such an important role in supporting the defense of our nation.”

B&W NOG offers a complete range of nuclear components and services, including the manufacture of nuclear reactor components for U.S. Naval submarines and aircraft carriers and other nuclear and non-nuclear R&D and component production. The organization employs more than 3,900 people with operations in Virginia, Ohio, Indiana and a subsidiary in Tennessee.

Source: Business Wire