Company Website:
http://www.babcock.com
CHARLOTTE, N.C. -- (Business Wire)
The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its
subsidiary Babcock & Wilcox Canada Ltd. (B&W Canada) has been awarded a
long-term master services agreement that establishes a framework to
provide its customer, Bruce Power, with nuclear services and components
for its commercial nuclear operations in Tiverton, Ontario.
As part of this award, B&W Canada will supply outage services for steam
generators and preheaters at all Bruce Power units for the next six-year
term. The nature of the work includes engineering, tooling development,
skilled trades training and site work execution. The contract
anticipates a value of approximately $300 million and represents more
than 100 jobs in a variety of disciplines.
Bruce Power operates the world’s largest operating nuclear generating
facility and is the source of roughly 30 per cent of Ontario’s
electricity. The company’s site in Tiverton, Ontario is home to eight
CANDU reactors, each one capable of generating enough low-cost,
reliable, safe and clean electricity to meet the annual needs of a city
the size of Hamilton.
“We’re a proud, long-term supplier to Bruce Power, dating back to 1977
when we supplied the site’s first nuclear steam generators,” said
President, B&W Canada, John MacQuarrie. “This award represents our
continued commitment to supplying Bruce Power with trusted solutions
that support the production of safe, clean, affordable power for
Ontario.”
B&W Canada and Bruce Power participated in an official signing ceremony
on November 27, which was attended by Ontario Minister of Energy,
Honorable Bob Chiarelli, Member of Provincial Parliament for Cambridge,
Kathryn McGarry, community leaders and staff.
Work associated with the award of this contract will commence in January
2015. It is expected to carry out into 2020 and provides a foundation to
be expanded as Bruce Power proceeds with extending the lives of its
Units as outlined in Ontario's Long Term Energy Plan.
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 throughout the world. Follow us on Twitter
@BabcockWilcox and 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 value range, performance and
timing, to the extent either can be viewed as an indicator of future
revenues, of the master services contract with Bruce Power. These
forward-looking statements involve a number of risks and uncertainties,
including, among other things, the amount and scope of work that B&W
Canada is engaged to perform under the contract, delays or other
difficulties in contract execution, or modification or termination of
the contract.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
annual report on Form 10-K for the year ended December 31, 2013 and
subsequent quarterly reports on Form 10-Q filed with the Securities and
Exchange Commission.B&W cautions not to place undue reliance on
these forward-looking statements, which speak only as of the date of
this release, and undertakes no obligation to update or revise any
forward-looking statement, except to the extent required by applicable
law.
Contacts:
The Babcock & Wilcox Company
Media Contact:
Natalie
Cutler, 519-620-5288
Media Relations Advisor
nacutler@babcock.com
or
Investor
Contact:
Jenny Apker, 704-625-4937
Vice President, Treasurer
and Investor Relations
investors@babcock.com
Source: The Babcock & Wilcox Company
© 2024 Canjex Publishing Ltd. All rights reserved.