Babcock & Wilcox Awarded $30 Million Boiler Component Contract

July 23, 2020

AKRON, Ohio--(BUSINESS WIRE)-- Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE: BW) announced today that its subsidiary, The Babcock & Wilcox Company, has been awarded a contract for approximately $30 million to supply replacement boiler components for an energy production facility.

“We continue to provide best-in-class technology and services globally to the utility sector to maintain their critical assets in peak operating condition,” said B&W Chief Executive Officer Kenneth Young. “At a time when many of our competitors are pulling back from serving this important market, B&W continues to provide unmatched service and expertise to customers around the world.”

B&W supplies a broad range of products and services tailored to the energy industry. From super and sub-critical boilers, package boilers to renewable energy solutions and advanced emissions control technologies, parts, field engineering services and more, B&W’s expertise and experience are unequaled.

About B&W

Headquartered in Akron, Ohio, Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets. 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, without limitation, statements relating to the execution and completion of The Babcock & Wilcox Company’s contract to supply replacement boiler components for an energy production facility. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

Investors:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
704.625.4944 | investors@babcock.com

Media:
Ryan Cornell
Public Relations
Babcock & Wilcox
330.860.1345 | rscornell@babcock.com

Source: Babcock & Wilcox Enterprises, Inc.

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