B&W Awarded Boiler Equipment Replacement Contract

CHARLOTTE, N.C.--(BUSINESS WIRE)-- Babcock & Wilcox Enterprises, Inc. (NYSE: BW) announced today that its subsidiary, The Babcock & Wilcox Company (B&W), has been awarded a contract for more than $50 million to design and supply boiler equipment for an existing North American power plant. The majority of the value of this contract will be booked in first quarter 2018.

“Maintaining a reliable and efficient North American power fleet is a key goal for B&W’s Power business,” said Mark Low, Senior Vice President of B&W’s Power segment. “Coal-fired plants continue to provide a substantial portion of the power delivered to the electrical grid, and it’s critical that these plants be maintained to operate at peak efficiency.”

B&W has successfully executed thousands of component replacement projects for B&W and non-B&W utility and industrial boilers. For this project, B&W will manufacture replacement boiler components for the plant’s coal-fired, natural circulation B&W Radiant Boiler.

Work is underway on this project and material delivery is scheduled to be completed in mid-2020.

About B&W

Headquartered in Charlotte, N.C., Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets, and has been transforming our world for 150 years. Follow us on Twitter @BabcockWilcox and learn more at www.babcock.com.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including statements relating to the scope and timing of B&W’s contract to design and supply replacement boiler components as described above. These forward-looking statements involve a number of risks and uncertainties, including, among other things, disputes with customers or suppliers, availability of engineering resources, delays or other difficulties executing such contract, and adverse modifications to the contract, including termination. If one or more of these or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, please see B&W's filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180320005248/en/

Babcock & Wilcox
Investor Contact:
Chase Jacobson, 704-625-4944
Vice President, Investor Relations
[email protected]
or
Media Contact:
Ryan Cornell, 330-860-1345
Public Relations
[email protected]

Source: Babcock & Wilcox Enterprises, Inc.

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