B&W Thermal Awarded $20 Million Installation Contract to Upgrade and Extend Lifespan of Power Plant
Babcock & Wilcox (NYSE: BW) announced a contract exceeding $20 million to install replacement boiler pressure parts at a North American power plant. The work will be conducted by its subsidiary, Babcock & Wilcox Construction Co. (BWCC), with installation starting in February 2021 and expected completion in spring 2021. This project is part of B&W Thermal's strategy to extend plant operational lifespans, tapping into rising demand for plant maintenance and upgrades amid competitors reducing their service offerings.
- Secured a contract valued at over $20 million for boiler pressure parts installation, indicating strong demand for maintenance services.
- Installs will help extend the operational lifespan of the power plant, benefiting long-term operational efficiency.
- None.
AKRON, Ohio--(BUSINESS WIRE)--Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Thermal segment will install replacement boiler pressure parts for a power plant in North America. The contract, valued at more than
Under this contract, BWCC will install new superheater sections and furnace panels, some of which were designed and supplied by B&W under a previous contract, to help extend the life of the plant’s operations.
“B&W Thermal has unmatched experience with installing equipment to maintain and extend the operable lifespan of boilers and other equipment for the North American power fleet,” said B&W Chief Operating Officer Jimmy Morgan. “Whether installing or servicing B&W’s or our competitors’ equipment, we have the resources and knowledge to respond to customers’ needs and deliver reliable solutions.”
“As many of our competitors have stepped back from providing cost-effective plant maintenance and upgrades, B&W Thermal has stepped up to continue supplying these critically important services. We are seeing increasing demand from our customers as they plan long-term strategies in upgrading or converting technologies,” Morgan said.
Installation is scheduled to begin in February 2021, with completion anticipated later in the spring.
B&W Thermal is a single-source turnkey supplier of a full range of field construction, construction management and maintenance services. With significant experience with a wide range of projects — from large, complex projects to small unanticipated quick turnaround repair needs — B&W Thermal has the depth of knowledge and responsiveness necessary to safely deliver dependable services of any size at any facility.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on LinkedIn and learn more at www.babcock.com.
About B&W Thermal
Babcock & Wilcox Thermal designs, manufactures and erects steam generation equipment, aftermarket parts, construction, maintenance and field services for plants in the power generation, oil & gas, and industrial sectors. Babcock & Wilcox Thermal has an extensive global base of installed equipment for utilities and general industrial applications including refining, petrochemical, food processing, metals and more.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the execution and completion of a contract to install replacement boiler pressure parts for a power plant in North America. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
