Babcock & Wilcox Asia-Pacific Business Growth Continues with $7 Million Southeast Asia Thermal Equipment and Service Order

Rhea-AI Summary

Babcock & Wilcox (NYSE: BW) has secured a $7 million order for equipment and services from a utility customer in Southeast Asia. The project focuses on the design, supply, installation, and commissioning of boiler cleaning equipment as part of an upgrade. This initiative is aligned with B&W's growth strategy in the Asia-Pacific region, where the company has enhanced resources since establishing its regional headquarters last year. B&W aims to target markets including renewable energy, environmental services, and industrial sectors.

Positive

• Secured a $7 million order for equipment and services.
• Strengthened presence in the Asia-Pacific region with new resources.
• Focused on growth in renewable, environmental, and industrial markets.

Negative

• None.

AKRON, Ohio--(BUSINESS WIRE)-- Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Thermal segment has received an order for approximately $7 million to provide equipment and services for a utility customer in Southeast Asia.

B&W will design, supply, install and commission boiler cleaning equipment and controls and provide other services for an upgrade project for the customer’s plant.

“Our growth strategy in the Asia-Pacific region continues to gain momentum,” said Jimmy Morgan, B&W Chief Operating Officer. “We see tremendous opportunities for our business in Southeast Asia, Australia and elsewhere and we are strategically pursuing core technology work throughout these areas.”

Since announcing the creation of its Asia-Pacific headquarters last year, B&W has added significant resources in the region, including business development and sales representatives, project managers and others.

B&W’s focus for the Asia-Pacific region includes upgrades, parts, equipment and other services to customers in the renewable, environmental, power and industrial markets, including to under-serviced local markets and the pulp & paper and petrochemical sectors.

About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. 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 receipt of an order to provide equipment and services to a utility customer in Southeast Asia, as well as opportunities for growth of its Asia-Pacific business. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211014006088/en/

Investor Contact:

Megan Wilson

Vice President, Corporate Development & Investor Relations

Babcock & Wilcox

704.625.4944 | investors@babcock.com

Media Contact:

Ryan Cornell

Public Relations

Babcock & Wilcox

330.860.1345 | rscornell@babcock.com

Source: Babcock & Wilcox Enterprises, Inc.

FAQ

What recent order did Babcock & Wilcox (BW) receive?

Babcock & Wilcox received a $7 million order for equipment and services from a utility customer in Southeast Asia.

How is Babcock & Wilcox expanding in Southeast Asia?

Babcock & Wilcox is expanding by focusing on an upgrade project in Southeast Asia, targeting renewable and environmental markets.

What services will Babcock & Wilcox provide for their recent contract?

Babcock & Wilcox will provide boiler cleaning equipment, controls, and other services for an upgrade project.

When was the Asia-Pacific headquarters for Babcock & Wilcox established?

Babcock & Wilcox established its Asia-Pacific headquarters last year.

What is included in Babcock & Wilcox's growth strategy in Asia?

The growth strategy includes upgrades, parts, equipment, and services for the renewable and industrial markets.