The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary, Babcock & Wilcox Nuclear Operations Group, Inc. (B&W NOG), received its second release under the $2 billion contract awarded in 2010. The $600 million order was funded in the fourth quarter of 2011 and is 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. Combined with the annual award for naval nuclear fuel announced during the fourth quarter, B&W NOG reported total fourth-quarter bookings of $777.6 million, and ended 2011 with total backlog of approximately $3.0 billion.
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 in January 2012.
"We are pleased to receive this additional work and continue B&W's ongoing support of U.S. defense programs," said Peyton S. Baker, President of B&W NOG. "We look forward to continuing to provide reliable and technologically advanced nuclear products that play an important role in our nation's security."
Source: Babcock & Wilcox Company
Date: Feb 10, 2012