B&W Receives $450 Million Order for Nuclear Components
27 Januar 2010 - 2:30PM
Business Wire
McDermott International, Inc. (NYSE: MDR) (“McDermott”),
announced today that The Babcock & Wilcox Company (“B&W”),
through a subsidiary, has received an award of approximately $450
million for the manufacture of nuclear components to support U.S.
defense programs, including the manufacture of U.S. Naval nuclear
power systems for submarines and aircraft carriers. The value of
this contract was recorded in McDermott’s Government Operations
segment backlog during the fourth quarter 2009.
“We are very pleased with these new orders and the steady growth
of B&W’s nuclear product line for the U.S. government,” said
Winfred Nash, President of Babcock & Wilcox Nuclear Operations
Group. “B&W has long played an important role in supporting the
defense of our nation, and we continue to be committed to that
mission by providing reliable, cost effective and technologically
advanced nuclear products.”
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 value and scope
associated with this contract. 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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