CHARLOTTE, N.C.--(BUSINESS WIRE)--
Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW), announced today that
its subsidiary, Babcock & Wilcox SPIG, Inc. (B&W SPIG), was awarded
three major contracts totaling more than $60 million in the first
quarter of 2017 to design and supply dry cooling systems for U.S.
customers.
Under the contracts, B&W SPIG will supply five low-noise air-cooled
condensers and one air-cooled
heat exchanger, also known as an air fin cooler, to customers in the
United States.
Both of these types of B&W SPIG dry cooling systems features highly
efficient, state-of-the-art designs that are custom engineered for high
performance and reduced site construction costs. Dry cooling systems are
typically used in process industries such as oil and gas, petrochemical
and chemical processing, and in electric power plants and
waste-to-energy plants.
“We are extremely pleased that our customers have chosen B&W SPIG for
their plant cooling needs,” said Francesco Racheli, senior vice
president, B&W SPIG. “B&W SPIG’s cooling technologies are custom
designed and well-suited to utility and industrial applications, and we
see numerous new or retrofit opportunities in various sectors for these
technologies across the globe.”
Work is underway on all three projects, with equipment deliveries
scheduled for dates in 2017 and 2018.
B&W acquired SPIG S.p.A., a global provider of custom-engineered cooling
systems and services, in July 2016. The acquisition further expanded the
range of technologies and services B&W provides its industrial and power
generation customers, while also providing B&W SPIG with additional
opportunities to grow its global footprint, including in the United
States.
About B&W
Headquartered in Charlotte, N.C., Babcock & Wilcox is a global leader
in energy and environmental technologies and services for the power and
industrial markets, and has been transforming our world for 150 years.
B&W companies employ approximately 5,000 people worldwide. Follow us on
Twitter @BabcockWilcox
and learn more at www.babcock.com.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements,
including statements relating to the scope and timing of B&W SPIG’s
contracts to design and supply dry cooling systems as described above.
These forward-looking statements involve a number of risks and
uncertainties, including, among other things, disputes with customers or
suppliers, availability of engineering resources, delays or other
difficulties executing such contracts, and adverse modifications to the
contracts, including termination. 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 our most recent annual report on Form 10-K 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.

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Source: Babcock & Wilcox Enterprises, Inc.