Babcock & Wilcox Receives $535.1 Million Contract for Naval Nuclear Components
Headquartered in Charlotte, North Carolina, the Babcock & Wilcox Company is a United States-based company that provides a multitude of services to nuclear, renewable, fossil power, industrial, and government customers on a global scale. Services include design, engineering, manufacturing, construction, and facilities management.In 1961, B&W was responsible for designing and supplying reactors for the NS Savannah, the first U.S.-built nuclear-powered surface ship, as well as creating the world’s first utility boiler in 1881. In February 2015, one of Babcock & Wilcox’s business units, the Nuclear Operations Group, was awarded a USD$535.1 million contract to support the United States Navy’s nuclear reactor programs.
The funding is to be used to produce nuclear propulsion components for Virginia-class submarines and Ford-class aircraft carriers. In addition, a small percentage of the funds will be used for the disassembly and recovery of highly enriched uranium materials. B&W has major operations across 5 states and employs more than 12,700 people domestically. Overseas, B&W employs approximately 10,400 joint venture employees at their China and India company locations. During World War II, over half of the US Navy fleet was powered by Babcock & Wilcox boilers and today, over 90 countries worldwide utilize them. The company receives over one third of its annual revenue from the US Government and in June 2014 it was ranked on the Fortune 1000 list.
Posted on February 27, 2015