(CHARLOTTE, N.C. – August 4, 2014) – The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that Babcock & Wilcox Construction Co., Inc. (BWCC), a subsidiary of Babcock & Wilcox Power Generation Group, Inc. (B&W PGG), has been awarded a contract to erect a dry flue gas desulfurization (FGD) unit at Southwestern Electric Power Co.’s (SWEPCO) Flint Creek Power Plant in Gentry, Ark. BWCC will construct the 550 megawatt plant’s dry FGD system, which will create hundreds of jobs during peak construction periods in 2015.
“Whether it’s designing and building our own equipment or erecting components designed by others, Babcock & Wilcox Construction Co. has the experience and knowledge to successfully execute these kinds of projects,” B&W PGG President and Chief Operating Officer J. Randall Data said. “This project is a particularly important example of one that will allow for the cleaner use of coal for power generation to supply SWEPCO’s customers’ energy needs and create significant local economic benefits. “We’re proud that SWEPCO and its parent company, American Electric Power, have chosen BWCC to construct this equipment,” Data said. The contract was booked by B&W PGG in the second quarter of 2014. Construction activity for Flint Creek is expected to begin soon, with completion scheduled for mid 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 11,000 people, in addition to joint venture employees throughout the world. 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 anticipated benefits of the SWEPCO contract and the performance and timing, to the extent either can be viewed as an indicator of future revenues, of the SWEPCO contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, 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. ###
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The Babcock & Wilcox Company
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The Babcock & Wilcox Company