Contractors, B&W, Comment on US Government Shutdown Effect

MarineLink.com
Tuesday, October 15, 2013

The Babcock & Wilcox Company has issued the following statement regarding the potential impact of the government shutdown:

"B&W is closely monitoring the government shutdown and the effect it could have on our business results and operations. We do not expect any delays or impacts to the Babcock & Wilcox Nuclear Operations Group for the foreseeable future.

Babcock & Wilcox Technical Services Group (B&W TSG) continues to follow direction from the U.S. Department of Energy at project sites where B&W TSG has a presence. Many of the sites at which we have management and operating contracts or environmental management contracts have seen activities curtailed and are preparing for furloughs, which will be occurring over the next two weeks if the government shutdown is not ended. If the shutdown continues into November, it could begin to have a modest adverse impact on B&W TSG segment operating income.

We remain hopeful that our leaders in Washington continue to pursue workable solutions to this difficult situation."

About B&W
Headquartered in Charlotte, N.C., The Babcock & Wilcox Company is a leader in clean energy technology and services, primarily for the nuclear, fossil and renewable power markets, as well as a premier advanced technology and mission critical defense contractor. B&W has locations worldwide and employs approximately 12,000 people, in addition to approximately 10,400 joint venture employees.
 

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