Babcock & Wilcox, Toshiba in talks to provide nuclear technical assistance to Japan

Source: Babcock & Wilcox Company 

The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced that it is in discussions with Toshiba Group (Toshiba) to provide nuclear technical assistance and services to secure and maintain the safety of the nuclear power plants at Fukushima Daiichi in Japan. The scope of work has not yet been defined. 

Toshiba is helping the Japanese Government and Tokyo Electric Power Co., Ltd. (TEPCO), the operator of the Fukushima power plants, to restore and maintain the safety of the affected nuclear power plants and to reinstate power in the region hit by the earthquake and tsunami. 

“We are saddened by the loss of life and devastation that has occurred as a result of the earthquake and tsunami in Japan. Our thoughts are with those affected by this tragedy as well as those who continue to recover from its aftermath,” said B&W President and CEO Brandon C. Bethards. “B&W is prepared to support Toshiba’s efforts to stabilize the Fukushima Daiichi nuclear power units.” 

B&W has no operations in Japan; however, it continues to closely monitor the events. At this time, the Company has had no adverse impact to its supply chain or in its ability to meet commitments to its customers. 

“Nuclear power plays an important role in the current and future energy picture,” Bethards said. “There will be lessons learned from this event, and as appropriate, the industry will incorporate those lessons to make nuclear an even safer energy source.”

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