This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

B&W Joint Venture Awarded Boiler And Environmental Contract In Vietnam

The Babcock & Wilcox Company (B&W) (NYSE: BWC) announced today that Babcock & Wilcox Beijing Co. Ltd. (BWBC), an unconsolidated Chinese joint venture within B&W’s Power Generation segment, has been awarded a contract worth more than $300 million to design and manufacture two coal-fired boilers, boiler auxiliaries and two wet flue gas desulfurization (FGD) units for PetroVietnam’s Thai Binh II power plant in Vietnam.

South Korean engineering and construction firm Daelim Industrial Co. Ltd., the project’s lead contractor, selected BWBC to engineer and manufacture the two 600 megawatt, subcritical downshot boilers according to a B&W design. B&W’s licensee, Zhejiang Tiandi Environmental Protection Engineering Co., Ltd., will supply both wet FGD units.

“We value our strong relationships with PetroVietnam and Daelim and thank both companies for selecting BWBC for this project,” said BWBC General Manager Paul Li. “We look forward to delivering reliable equipment using B&W’s technology and doing our part to make the Thai Binh project a success.”

“This project is another great example of B&W’s growth in Asia and of BWBC’s ability to deliver B&W’s unmatched power generation technology to our Vietnamese customers,” said Babcock & Wilcox Power Generation Group, Inc. President and Chief Operating Officer J. Randall Data.

Engineering is currently underway at BWBC’s facility in Beijing. Both units are scheduled to be completed and operational in 2016.

About B&W

Headquartered in Charlotte, N.C., The Babcock & Wilcox Company is a leader in clean energy technology and services, primarily for the nuclear, fossil and renewable power markets, as well as a premier advanced technology and mission critical defense contractor. B&W has locations worldwide and employs approximately 12,700 people, in addition to approximately 10,400 joint venture employees. Learn more at www.babcock.com .

Cautionary Statement Regarding Forward Looking Statements

B&W cautions that this release contains forward-looking statements, including statements relating to the timing and value, to the extent value may be viewed as an indicator of future revenues, of the Thai Binh II power plant contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties executing contracts and changes adversely affecting joint venture management and operations. 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 its annual report on Form 10-K for the year ended December 31, 2011. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

Copyright Business Wire 2010

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs