BWXT Announces $2.2bn in Contracts for Naval Nuclear Reactor Components and Fuel

BWX Technologies, Inc. (NYSE: BWXT) announced today the award of U.S. Naval Nuclear Propulsion Program contracts totaling approximately $2.2 billion, including future-year options, for the manufacture of naval nuclear reactor components and fuel.

“Today’s announcement marks a continuation of a more-than 65-year-old trusted relationship with the U.S. government to provide the reactors that power our nation’s nuclear navy,” said BWXT Nuclear Operations Group, Inc. President Joel W. Duling. “We are proud to continue manufacturing essential components for this generation of sailors.”

The initial contracts were awarded in the first quarter of 2021 and will constitute approximately half of the $2.2 billion. The contract options are subject to annual Congressional appropriations and constitute the remainder of the total value.

Columbia and Virginia-class naval nuclear reactor component manufacturing and material procurement activities will be performed at BWXT Nuclear Operations Group, Inc. locations in Lynchburg, Virginia; Barberton and Euclid, Ohio; and Mount Vernon, Indiana over an 8-year period beginning in 2021. Including future year options, this work is valued at more than $1.8 billion.

The balance of the work – manufacture and delivery of fuel and support activities for the U.S. Naval Nuclear Propulsion Program, as well as development work for future Naval Reactors programs – will be performed by Nuclear Fuel Services, Inc. in Erwin, Tennessee.

“Columbia is critical to our nation’s strategic defense requirements,” BWXT Government Operations President Dr. Rob Smith said. “BWXT is pleased to support the U.S. Navy’s top priority in achieving on-time deployment of these new ballistic missile submarines while continuing production of Virginia-class components for the Navy’s mission.”