The Babcock & Wilcox Company (B&W) announced today the acquisition by one of its subsidiaries of Anlagenbau und Fördertechnik Arthur Loibl GmbH (Loibl), a privately held Straubing, Bavaria, Germany-based manufacturer of material handling equipment, for an undisclosed amount. The business will be integrated and managed by Babcock & Wilcox Power Generation Group, Inc.’s (B&W PGG) Allen-Sherman-Hoff division and will operate as Loibl Allen-Sherman-Hoff GmbH.

The acquisition positions B&W to continue diversifying and expanding its products and services portfolio, and its global reach to customers. Loibl, a leading German-based supplier of material handling products, serves a variety of power generation and industrial markets in Europe, which will be complimented with the introduction of Allen-Sherman-Hoff’s fly ash and bottom ash handling technologies. Likewise, Loibl products provide broader technology solutions to customers as well as growth opportunities for the Loibl Allen-Sherman-Hoff business.

“Loibl’s outstanding reputation, advanced technology and more than 50 years of experience will be valuable additions to B&W’s portfolio of products,” said Brandon C. Bethards, President and Chief Executive Officer of B&W. “Allen-Sherman-Hoff is a globally recognized leader in ash handling solutions for the power generation and other industries. Combining the capabilities and global reach of these two leading companies will bring new technologies and solutions to our customers and will allow us to serve a variety of new industries.”

B&W expects this acquisition to be modestly accretive in its first year of operation. In the last 12 months, Loibl has generated approximately $25 million in revenue.

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 12,000 people, in addition to approximately 10,000 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, without limitation, statements relating to the Loibl acquisition. These forward-looking statements are based on current management expectations and involve a number of risks and uncertainties, including, among other things, our ability to successfully integrate Loibl’s operations, products and technology with our Allen-Sherman-Hoff business and our ability to implement our plans, forecasts and other expectations with respect to the Loibl Allen-Sherman-Hoff business. If one or more of these risks or other risks materialize, actual results may vary materially from those expected. For a more complete discussion of these and other risk factors, 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, 2010 and 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 hereof, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

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