Babcock & Wilcox Awarded Installation Services Contract

Rhea-AI Summary

Babcock & Wilcox (NYSE: BW) announced a $68 million contract awarded to its subsidiary, Babcock & Wilcox Construction Co., for power plant maintenance in North America. This project aims to enhance energy security through efficient and safe construction services. BWCC emphasizes a strong safety culture with a goal of zero lost-time incidents. The company provides turnkey construction and maintenance services across various industries, showcasing its versatility and commitment to quality in infrastructure projects.

Positive

• Awarded a $68 million contract for power plant maintenance, signaling robust demand.
• Focus on safety with a 'Target Zero' culture aims to minimize work-related incidents.
• Experience as a single-source supplier reinforces BWCC's industry position.

Negative

• None.

AKRON, Ohio--(BUSINESS WIRE)-- Babcock & Wilcox (B&W) (NYSE: BW) announced today that Babcock & Wilcox Construction Co., LLC (BWCC) has been awarded a contract for approximately $68 million to provide construction and installation services for a power plant maintenance project in North America.

“BWCC provides experienced, efficient and safety-focused construction and installation services for customers in a wide range of industries, including utilities, manufacturing, oil & gas, pulp & paper, renewable energy and more,” said B&W Executive Vice President and Chief Operating Officer Jimmy Morgan. “Maintaining the efficiency and reliability of power infrastructure is critical to energy security, and we are pleased to be a part of this project.”

BWCC Vice President and General Manager Mike Hidas emphasized the critical importance of performing work safely and reliably on every BWCC project. “We look forward to executing this project with a strong emphasis on our Target Zero safety culture, with a goal of zero lost-time incidents from start to finish,” Hidas said. “We have already started with project planning and look forward to successfully delivering this project to our customer.”

BWCC is a single-source turnkey supplier of a full range of field construction, construction management and maintenance services. BWCC’s experience ranges from large, complex projects to small, quick turnaround repair needs.

About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at babcock.com.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the awarding of a contract to provide construction and installation services for a power plant maintenance project 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220518006155/en/

Investor Contact:

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 contract did Babcock & Wilcox (BW) announce recently?

Babcock & Wilcox announced a $68 million contract for power plant maintenance in North America.

What is the importance of the contract awarded to Babcock & Wilcox?

The contract is crucial for enhancing energy security and maintaining power infrastructure efficiency.

How does Babcock & Wilcox ensure safety in its projects?

Babcock & Wilcox emphasizes a 'Target Zero' safety culture to achieve zero lost-time incidents.

What services does Babcock & Wilcox Construction Co. (BWCC) provide?

BWCC offers a full range of field construction, construction management, and maintenance services.

Where is Babcock & Wilcox headquartered?

Babcock & Wilcox is headquartered in Akron, Ohio.