B&W win $2B naval nuclear reactor components contract

Source: The Babcock & Wilcox Company

The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced that its subsidiary, Babcock & Wilcox Nuclear Operations Group, Inc. (B&W NOG) has been awarded a contract totaling approximately $2.0 billion, including options. The base portion of the contract, which totals $807 million, will be funded in January and March and included in backlog at the end of 2010. The options are expected to be funded in Government Fiscal Years 2012 and 2013. The contract 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. The work will be performed over a 10-year period, beginning in January 2011. 

"We are pleased with this new agreement and our ongoing support of U.S. defense programs," said Winfred D. Nash, President of B&W NOG. "We look forward to continuing to fulfill our commitment to the nation's security by providing reliable and technologically advanced nuclear products." 

B&W NOG offers a complete range of nuclear components and services, including the manufacture of nuclear reactor components for U.S. Naval submarines and aircraft carriers and other nuclear and non-nuclear R&D and component production. B&W NOG employs more than 3,800 people with operations in Virginia, Ohio and Indiana.



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