B&W Unit Bags Contract For Naval Reactors Components Worth Up To $1.3 Bln

(RTTNews) - The Babcock & Wilcox Co. or B&W's (BWC) subsidiary, B&W Nuclear Operations Group, Inc. or B&W NOG, has won a contract from the U.S. Naval Reactors Program worth up to $1.3 billion in funding over the next 3 years, if fully executed.

Pursuant to the contract, that is 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, an order for $508 million has been released for work to begin immediately. This would be followed by several releases for subsequent fiscal 2014, fiscal 2015 and fiscal 2016 options, all of which are in addition to existing business awarded to B&W NOG under other multi-year and annually awarded contracts.

Peyton Baker, President B&W Nuclear Operations Group, stated: "The reliability of our nuclear products will again be called on to help ensure that our Navy can successfully meet its missions."

Work under the contract would be done at B&W NOG's facilities in Lynchburg, Va., Mount Vernon, Ind. and Barberton and Euclid, Ohio.