B&W to Supply Scrubbers at Michigan Power Plant
30 April 2010 - 2:30PM
Business Wire
McDermott International, Inc. (NYSE: MDR) (“McDermott”),
announced today that one of its subsidiaries, Babcock & Wilcox
Power Generation Group, Inc. (“B&W”), has signed a contract
worth approximately $90 million to design, engineer, procure and
construct wet flue gas desulfurization (“FGD”) systems, commonly
called scrubbers, for two 825 megawatt units at Detroit Edison
Company’s Monroe Power Plant in Monroe, Michigan. The value of this
project will be included in McDermott’s Power Generation Systems
segment backlog for the first quarter of 2010.
B&W's full scope of supply includes the absorber island,
piping, outlet flues and other associated equipment. B&W also
designed and installed scrubbers for the control of sulfur dioxide
emissions on the Monroe plant’s two other units, which began
successful operation last year. The B&W contract is a component
of Detroit Edison’s overall FGD project, which is estimated to cost
about $600 million and includes construction of a new 580-foot
chimney, a building to house the absorber system, installation of
control systems and construction of additional infrastructure.
“We’re committed to providing our customers with effective,
economical solutions to comply with more stringent state and
federal clean air standards,” said Richard L. Killion, President
and Chief Operating Officer of Babcock & Wilcox Power
Generation Group, Inc. (“PGG”). “B&W has a reputation in the
power generation industry as a leader in flue gas desulfurization
and other important emissions control technologies, and we’re proud
to offer products and services that live up to that
reputation.”
Engineering is underway at B&W PGG’s Barberton, Ohio
headquarters. Monroe Unit 1’s wet FGD system is scheduled for
start-up in the fall of 2013. Unit 2 is scheduled for a spring 2014
start-up.
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, scope,
execution, and timing associated with this 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, 2009.
McDermott (NYSE:MDR)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
McDermott (NYSE:MDR)
Historical Stock Chart
Von Jul 2023 bis Jul 2024