Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) announced today that
its subsidiary, The Babcock & Wilcox Company, has received combined
purchase orders totaling more than $50 million for 11 industrial package
boilers in October, November and early December.
The orders include the significant contract that was announced earlier
this month to provide boilers for a Canadian oil sands project. The
orders come from five customers in North America, and the boilers will
be used to generate steam for a variety of applications – including food
and chemical processing, heating and petroleum extraction.
“B&W’s industrial package boilers are custom engineered to each
project’s unique specifications,” said B&W Power Segment Senior Vice
President Mark Low. “We are a global leader in supplying a wide range of
industrial water-tube boiler designs to meet targeted, challenging,
long-lasting operational and performance goals for power and process
applications.”
B&W’s package boilers can operate on a variety of fuels, including
natural gas, oil, carbon monoxide, furnace gases and waste heat to
generate 10,000 to 1,200,000 lb/hour of steam at 250 to 2400 psig, and
can be shop or field-assembled.
B&W has sold more than 5,000 industrial package boilers worldwide. B&W
boilers can be found in utilities, mills, refineries, universities,
institutions, mines and other industrial facilities and are engineered
to meet unique capacity, space, fuel, emissions, transportation,
installation and other requirements.
About B&W
Babcock & Wilcox is a global leader in energy and environmental
technologies and services for the power and industrial markets, and has
been transforming our world for 151 years. Follow us on Twitter @BabcockWilcox
and learn more at www.babcock.com.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements,
including, without limitation, statements relating to our strategic
objectives; our business execution model; management’s expectations
regarding the industries in which we operate; our guidance and
forecasts; our projected operating margin improvements, savings and
restructuring costs; covenant compliance; and project execution. These
forward-looking statements are based on management’s current
expectations and involve a number of risks and uncertainties, including,
among other things, our ability to continue as a going concern; our
ability to obtain and maintain sufficient financing to provide liquidity
to meet our business objectives, surety bonds, letters of credit and
similar financing; our ability to satisfy the liquidity and other
requirements under U.S. revolving credit facility as recently amended,
including our ability to receive concessions from customers on our
Renewable energy loss contracts; our ability to maintain compliance with
the NYSE’s continued listing criteria; the highly competitive nature of
our businesses; general economic and business conditions, including
changes in interest rates and currency exchange rates; general
developments in the industries in which we are involved; cancellations
of and adjustments to backlog and the resulting impact from using
backlog as an indicator of future earnings; our ability to perform
contracts on time and on budget, in accordance with the schedules and
terms established by the applicable contracts with customers; failure by
third-party subcontractors, joint venture partners or suppliers to
perform their obligations on time and as specified; our ability to
realize anticipated savings and operational benefits from our
restructuring plans, and other cost-savings initiatives; our ability to
successfully address productivity and schedule issues in our Renewable
segment, including the ability to complete our Renewable energy projects
within the expected time frame and the estimated costs; our ability to
successfully partner with third parties to win and execute renewable
contracts; changes in our effective tax rate and tax positions; our
ability to maintain operational support for our information systems
against service outages and data corruption, as well as protection
against cyber-based network security breaches and theft of data; our
ability to protect our intellectual property and renew licenses to use
intellectual property of third parties; our use of the
percentage-of-completion method of accounting; our ability to
successfully manage research and development projects and costs,
including our efforts to successfully develop and commercialize new
technologies and products; the operating risks normally incident to our
lines of business, including professional liability, product liability,
warranty and other claims against us; changes in, or our failure or
inability to comply with, laws and government regulations; actual or
anticipated changes in governmental regulation, including trade and
tariff policies; difficulties we may encounter in obtaining regulatory
or other necessary permits or approvals; changes in, and liabilities
relating to, existing or future environmental regulatory matters;
changes in actuarial assumptions and market fluctuations that affect our
net pension liabilities and income; potential violations of the Foreign
Corrupt Practices Act; our ability to successfully compete with current
and future competitors; the loss of key personnel and the continued
availability of qualified personnel; our ability to negotiate and
maintain good relationships with labor unions; changes in pension and
medical expenses associated with our retirement benefit programs;
social, political, competitive and economic situations in foreign
countries where we do business or seek new business; the possibilities
of war, other armed conflicts or terrorist attacks; and the willingness
of customers and suppliers to continue to do business with us on
reasonable terms and conditions. If one or more of these risks or other
risks materialize, actual results may vary materially from those
expressed. For a more complete discussion of these and other risk
factors, see B&W’s filings with the Securities and Exchange Commission,
including our most recent annual report on Form 10-K and subsequent
quarterly reports on Form 10-Q. B&W cautions not to place undue reliance
on these forward-looking statements, which speak only as of the date of
this release, and undertakes no obligation to update or revise any
forward-looking statement, except to the extent required by applicable
law.
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