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PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

B&W Thermal Announces $10 Million in Service Contracts

December 17, 2020 GMT

AKRON, Ohio--(BUSINESS WIRE)--Dec 17, 2020--

Babcock & Wilcox (B&W) (NYSE:BW) announced today that its B&W Thermal segment has booked new service projects valued at more than $10 million. These contracts, for utility and industrial facilities, are in addition to more than $30 million in construction services bookings recently announced by B&W.

“B&W Thermal’s service capabilities are a cornerstone of our growing business,” said Jimmy Morgan, B&W Chief Operating Officer. “Customers turn to B&W Thermal to ensure their energy and industrial plants continue to operate efficiently and reliably, or when they need service or upgrade work to improve performance.”

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“B&W Thermal is known for providing reliable service and exceptional engineering expertise,” Morgan said. “The service agreements we’re announcing today represent a broad spectrum of the markets we serve, including utilities, natural gas, petrochemical facilities, iron and steel manufacturing and more.”

B&W Thermal responds to and solves customers’ toughest boiler and environmental equipment challenges. Its highly skilled field service engineers, service specialists, and resident service engineers are strategically located in offices worldwide to provide technical assistance whenever the need arises.

About B&W
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc., is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on Twitter @BabcockWilcox and learn more at www.babcock.com.

About B&W Thermal
Babcock & Wilcox Thermal designs, manufactures and erects steam generation equipment, aftermarket parts, construction, maintenance and field services for plants in the power generation, oil & gas, and industrial sectors. B&W has an extensive global base of installed equipment for utilities and general industrial applications including refining, petrochemical, food processing, metals and more.

Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the execution and completion of contracts for multiple service projects to provide services to utilities and industrial facilities. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20201217006067/en/

CONTACT: Investors:

Megan Wilson

Vice President, Corporate Development & Investor Relations

Babcock & Wilcox

704.625.4944 |investors@babcock.comMedia:

Ryan Cornell

Public Relations

Babcock & Wilcox

330.860.1345 |rscornell@babcock.com

KEYWORD: UNITED STATES NORTH AMERICA OHIO

INDUSTRY KEYWORD: OTHER MANUFACTURING STEEL ENGINEERING UTILITIES CHEMICALS/PLASTICS OIL/GAS COAL MANUFACTURING ENERGY NUCLEAR

SOURCE: Babcock & Wilcox Enterprises, Inc.

Copyright Business Wire 2020.

PUB: 12/17/2020 04:30 PM/DISC: 12/17/2020 04:30 PM

http://www.businesswire.com/news/home/20201217006067/en