B&W Announces $535 M for Naval Nuclear Reactor Programs
The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary Babcock & Wilcox Nuclear Operations Group, Inc. (B&W NOG) has been awarded contracts totaling approximately $535.1 million for the manufacture of naval nuclear reactor components for U.S. Navy submarines and aircraft carriers.
Of this work, approximately $424.6 million was issued as options under previously announced contract awards in 2010 and 2013. Approximately $110.5 million has been issued under new contracts awarded in late 2014.
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The work under these contracts, which began in January 2015, is being performed at B&W NOG's facilities in three states over the next several years.
The primary activity funded under these contracts is the manufacture of nuclear propulsion components for Virginia Class submarines and Ford Class aircraft carriers. Also included are work scopes for the disassembly and recovery of highly enriched uranium materials.
"We are quite excited to continue our decades-long relationship with the U.S. Naval Reactors Program, and these new awards will add significantly to our solid backlog," said Peyton S. Baker, President and Chief Operations Officer for B&W’s Government & Nuclear Operations Group. "Our employees remain dedicated to providing only the highest quality products and services that are critical to supporting the defense of our nation."
Source : The Babcock & Wilcox Company - view original press release
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