Babcock & Wilcox Company
) has won 2 U.S. Naval Reactors Program contracts to render
procurement and assembling services. Babcock & Wilcox will
execute the deals, worth $36 million, through its affiliate
Babcock & Wilcox Nuclear Operations Group Inc.
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The first contract is for the assembly of nuclear propulsion
components for Virginia Class submarines for $32 million. Work
for the same started in fourth quarter 2012 at B&W's
Lynchburg, Va. facility, and will take 4 years for completion.
The second contract, valued at $4 million, includes procurement
of long-lead materials associated with the manufacture of nuclear
components for Virginia Class submarines.
Earlier this month, B&W also received contracts worth more
than $510 million for the manufacture of nuclear components as
well as naval nuclear power systems.
Headquartered in Charlotte, North Carolina, Babcock & Wilcox
is engaged in providing clean energy technology and services for
the nuclear, fossil and renewable power markets worldwide. The
company - which was spun off as a separate, independent and
publicly traded entity from energy-focused engineering and
) in Aug 2010 - operates in four business units: Power
Generation, Nuclear Operations, Technical Services and Nuclear
B&W currently carries a Zacks Rank #4 (Sell), implying that
it is expected to underperform the broader U.S. equity market
over the next one to three months.
However, certain other engineering firms in the energy sector
Gardner Denver Inc.
) are expected to outperform the equity market in the next one to
three months. Both the stocks currently hold a Zacks Rank #2