The Babcock & Wilcox Co. (NYSE: BWC) said it is realigning its commercial nuclear business in response to changing market conditions, growth opportunities and the continuing progress of its small modular reactor (SMR) business.
Babcock & Wilcox Nuclear Energy, Inc. will comprise all non-SMR commercial nuclear operations, including global nuclear services, commercial nuclear equipment manufacturing and all related global sales initiatives. Michael D. Lees is named President of the organization. Lees will also continue to serve as President of Babcock & Wilcox Canada Ltd. headquartered in Cambridge, Ontario.
Babcock & Wilcox Modular Nuclear Energy Inc. will comprise all operations that relate to the research, development and deployment of B&W's SMR initiative using B&W mPower technology. Christofer M. Mowry is named President of B&W MNE. B&W's majority-owned subsidiary, Generation mPower LLC, will report into B&W MNE.
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