Babcock & Wilcox opt to spin-off of power division

Babcock & Wilcox have decided to separate their power generation and nuclear businesses in a major reorganisation.

The Babcock & Wilcox Company’s (B&W) Board of Directors unanimously approved a plan for the tax-free spin-off of the Company’s Power Generation business to B&W’s shareholders.
Babcock and Wilcox
The company’s power generation business, a technology-based provider of advanced fossil and renewable power generation equipment, will continue to operate under the "Babcock & Wilcox" name.

Meanwhile, BWX Technologies will comprise the government and nuclear power operations business and will consist of the nuclear operations, technical services, nuclear energy and mPower businesses.

Mr. E. James Ferland, President and Chief Executive Officer of B&W said the move would unlock greater value for the company’s shareholders.

"The B&W Board concluded that the standalone businesses will benefit from independent management teams, each equipped with the resources, strategic autonomy and financial flexibility to create significant long-term value for their respective shareholders."

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