B&W Wins Nuclear Contract for Condenser Replacement Project
15 Dezember 2009 - 2:00PM
Business Wire
The Babcock & Wilcox Company ("B&W"), a subsidiary of
McDermott International, Inc. (NYSE:MDR) ("McDermott"), announced
today that it has been awarded a contract to support a condenser
replacement project at Energy Northwest’s Columbia Generating
Station in Richland, Washington. B&W will begin preparations
for the project that will take place during a 2011 outage at the
plant.
“This is a very positive announcement for B&W’s focus on
commercial nuclear construction and our growing nuclear service
business segment,” said Rich Reimels, President of Babcock &
Wilcox Nuclear Power Generation Group. “We appreciate the
confidence that Energy Northwest has placed in us to safely support
the outage and complete this project on time.”
During the outage, B&W will remove the existing waterboxes
and copper-nickel tube bundles, then replace them with new
waterboxes and titanium tube bundles. B&W will also perform
piping rerouting and reconnections to the condenser. When the
outage is complete, B&W will restore the interferences and
inspect the final vacuum test of the condenser shell.
McDermott is an engineering and construction company, with
specialty manufacturing and service capabilities, focused on energy
infrastructure. McDermott’s customers are predominantly utilities
and other power generators, major and national oil companies, and
the United States Government. With its global operations, McDermott
operates in over 20 countries with more than 25,000 employees.
In accordance with the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995, McDermott International,
Inc. cautions that statements in this press release which are
forward-looking and provide other than historical information
involve risks and uncertainties that may impact McDermott’s actual
results of operations. The forward-looking statements in this press
release include, among other things, the expected scope, execution,
and timing associated with the Columbia Generation Station project.
Although McDermott’s management believes that the expectations
reflected in those forward-looking statements are reasonable,
McDermott can give no assurance that those expectations will prove
to have been correct. Those statements are made based on various
underlying assumptions and are subject to numerous uncertainties
and risks, including without limitation, changes in project design
or schedules, contract cancellations, change orders and other
modifications, and difficulties executing on the project. If one or
more of these risks materialize, or if underlying assumptions prove
incorrect, actual results may vary materially from those expected.
For a more complete discussion of these and other risk factors,
please see McDermott’s annual report on Form 10-K for the year
ended December 31, 2008, and subsequent quarterly reports on Form
10-Q, filed with the Securities and Exchange Commission.
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