The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary, Babcock & Wilcox Power Generation Group, Inc. (B&W PGG), and international wear solutions supplier Magotteaux have formed a strategic alliance to enable B&W PGG to market Magotteaux's advanced coal pulverizer grinding media and Metal Matrix Composites Vertical Roller Mills (VRM) parts to its U.S. and international customers and to investigate other strategic growth projects. The agreement will allow B&W PGG to supply Magotteaux-manufactured pulverizer balls, grinding segments, tires and other VRM components to customers in the power generation and other industries. It brings together B&W's extensive pulverizer experience and Magotteaux's expertise in wear materials, creating truly world-class products for these industries. "This alliance allows B&W PGG to provide the most-advanced and reliable pulverizer parts in the industry, including ceramic components with superior durability," said Mark Low, B&W PGG Senior Vice President, Global Services Division. "Magotteaux's nearly 100-year reputation for quality, performance and materials expertise is unmatched, and we're extremely pleased to be able to work together to manufacture these high-quality components to meet our customers' needs." Magotteaux Chief Sales Officer Sébastien Dossogne said, "This strategic alliance translates converging views of both companies: intense and structural collaboration between equipment manufacturer and wear solutions supplier to optimize customers' processes and total cost of ownership. We look forward to serving the market together for years to come." Gilles Recoules, Magotteaux Senior Vice President Cement and Power, also noted the benefits of the agreement for both companies. "We are extremely happy about this strategic alliance with B&W PGG," Recoules said. "Combining, valuing and aligning our multi-functional competencies and focusing on synergies will open up tremendous opportunities." Parts for B&W PGG's customers will be manufactured in Magotteaux facilities around the world. 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 11,600 people, in addition to joint venture employees located at projects around the world. Follow us on Twitter @BabcockWilcox and learn more at www.babcock.com . About Magotteaux Headquartered in Belgium, Magotteaux is the leader in process optimization for high abrasion extracting industries (mines, cement, power, quarries, dredging and recycling). Magotteaux employs 3,000 skilled talents, has a market footprint of above 500,000 tons of grinding media and castings through its 19 specialized production units and 28 sales offices and Technical Centers worldwide. Magotteaux is part of the Chilean Group Sigdo Koppers, the Chilean-based conglomerate providing services and products for the mining industry. Learn more at www.magotteaux.com and at www.sigdokoppers.cl Cautionary Statement Regarding Forward Looking Statements B&W cautions that this release contains forward-looking statements relating to the strategic alliance with Margotteaux. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties executing customer contracts and adverse changes in the industries or geographic regions in which we operate. 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, 2014 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.
More from Press Releases
NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling
The Supreme Court rules that previous congressional action forbidding states from legalizing sports betting was unconstitutional.
Walmart CEO: 'We Are Transforming Globally' With Flipkart
On its investor call on Wednesday morning, Walmart discusses the Flipkart deal.
March 24 Full-Day Course Offering: Professional Approach to Trading SPX
OptionsProfits, the CBOE, and Option Pit are hosting a class on March 24 that covers a wide variety of methods to trade the S&P 500.