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Wilcox Company News

15 Oct 2013

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

"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.

17 May 2012

A Case for Commercial Nuclear Power Vessels, Post the Fukushima Daiichi Nuclear Disaster

Russian ice breakers. Contrary to the afore mentioned opinion, I believe that not only are selected-route nuclear powered commercial vessels good for the marine industry but they also offer the world the most environmentally friendly and potentially the most economical and efficient way of shipping trans-ocean cargo. Although the Fukushima Daiichi disaster was a disaster of major proportions, we must not forget that it was initiated by a much more deadly and destructive disaster; a tsunami caused by a magnitude 9.0 Richter scale underwater earthquake. The nuclear disaster that occurred at the Fukushima Daiichi complex was not caused by inherent problems with the reactor…

04 Nov 2011

B&W Wins $115m Navy Nuke Refuel Deal

The Babcock & Wilcox Company (B&W) said that its subsidiary Nuclear Fuel Services, Inc. (NFS) has been awarded a $114.7 million contract for the manufacture and delivery of fuel and support activities for the U.S. Naval Nuclear Propulsion Program. "Support of our nation's naval fuel program is an important part of B&W's diverse business portfolio," said Joseph G. Henry, President of NFS. "Manufacture of naval nuclear fuel is a process developed by and unique to NFS. We are pleased with the continuation of our agreement with the U.S. NFS manufactures nuclear fuel for the U.S. Navy's fleet of nuclear-powered aircraft carriers and submarines. NFS also processes highly enriched uranium in a Category 1 secured facility, which is licensed by the U.S. Nuclear Regulatory Commission.

07 Dec 2009

Johnson President, CEO J. Ray McDermott

Photo courtesy J. Ray McDermott

J. Ray McDermott, S.A. (J. Ray) announced the appointment of Stephen M. Johnson as President and Chief Executive Officer of J. Ray, effective January 1, 2010. Johnson is the current President and Chief Operating Officer of McDermott International, Inc. (McDermott), J. Ray’s parent company. He succeeds Robert A. Deason, who, as previously announced, will retire at the end of the year. Separately, McDermott announced that it plans to separate its operating subsidiaries, The Babcock & Wilcox Company (B&W) and J. Ray, into two independent, publicly traded companies.

15 Dec 2008

ASA - New Advisory Council Officers

The American Shipbuilding Association (ASA) announced the election of four new Partner Advisory Council officers for calendar years 2009 and 2010. They were elected by their fellow ASA members in the fall of 2008. The four newly-elected officers of the Council are Pete Goumas, General Manager, The Babcock and Wilcox Company, Nuclear Operations Group, Euclid, OH; Shoun Kerbaugh, Vice President, Naval Systems/Merchant, Converteam Inc., Pittsburgh, PA; Bruce Rosenblatt, President, Bruce S. Rosenblatt & Associates, LLC, Arlington, VA; and Don Roussinos, President, Henschel, L-3, Newburyport, MA. Fred Conroy, Vice President and General Manager of the Government Business Unit for Dresser-Rand, Olean, NY, will continue his role on the Council through 2009.

02 Mar 2007

McDermott Reports 4Q 2006 Results

McDermott International, Inc. reported net income of $141m or $1.23 per diluted share, for the 2006 fourth quarter, compared to net income of $36.1 million, or $0.32 per diluted share, for the corresponding period in 2005. Weighted average common shares outstanding on a fully diluted basis were approximately 114.4 million and 112.3 million for the quarters ended December 31, 2006 and December 31, 2005, respectively. For 2005, the Company’s common shares outstanding and earnings per share are adjusted to reflect the 3-for-2 stock split effected in May 2006. McDermott’s revenues in the fourth quarter of 2006 were $1,308.0 million, compared to $395.9 million in the corresponding period in 2005.

08 Feb 2006

J. Ray Morgan City Facility Awarded Contract

J. Ray McDermott, S.A. ("J. Ray"), a subsidiary of McDermott International Inc. ("McDermott"), announced that its Morgan City, Louisiana fabrication facility has been awarded a contract for the construction of flues, ducts and reactor panels by The Babcock & Wilcox Company ("B&W"), also a McDermott subsidiary. The contract is in support of B&W's Kansas City Power & Light LaCygne #1 SCR project and is valued at approximately $4 million. Scheduled to begin in the first quarter of 2006, the contract requires J. Ray to procure structural steel materials and to fabricate, paint, load-out and ship to Kansas City: SCR system flues, ducts and reactor panels weighing approximately 2,500tons.