B&W Awarded Nuclear Steam Generator Contract by FirstEnergy.
HOUSTON -- McDermott International, Inc. (NYSE NYSE
See: New York Stock Exchange :MDR MDR,
n See multidrug resistance.
n the abbreviation for minimum daily requirement, specifically the Minimum Daily Requirements for Specific Nutrients compiled by the United States Food and Drug Administration. ) announced today that a subsidiary of The Babcock & Wilcox Company ("B&W") has been awarded a contract by FirstEnergy Nuclear Operation Company to design, fabricate and deliver two replacement once-through steam generators ("ROTSG") for the Davis-Besse Nuclear Power Station Davis-Besse Nuclear Power Station is a nuclear power plant with a single reactor located on the southwest shore of Lake Erie near Oak Harbor, Ohio. It is the 57th commercial power reactor to commence building in the United States of America (construction began on September 1, , an 873 MW pressurized pres·sur·ize
tr.v. pres·sur·ized, pres·sur·iz·ing, pres·sur·iz·es
1. To maintain normal air pressure in (an enclosure, as an aircraft or submarine).
2. light water reactor
A light water reactor or LWR , located in Oak Harbor, Ohio Oak Harbor is a village in Ottawa County, Ohio, United States. The population was 2,841 at the 2000 census. Geography
Oak Harbor is located at (41.512773, -83.146578)GR1. . The delivery of the ROTSGs is scheduled for 2013.
Nuclear steam generators are critical, highly engineered pieces of equipment that create the steam required for electrical power generation at the nuclear plant. The Davis-Besse ROTSGs will weigh in excess of 450 tons each and require over five years to design and fabricate. The work on these units will be completed at B&W's Cambridge, Ontario facility.
"This award effectively demonstrates B&W's experience, technological superiority, plus the ability and intent of B&W to stand behind its product," said Richard E. Reimels, President of Babcock & Wilcox Nuclear Power Generation Group, Inc. "B&W's vision and focus is to be a leading provider of the products and services critical to helping secure the energy needs of today and tomorrow including the design, engineering, fabrication, construction and field services required to support the current commercial nuclear fleet, as well as the nuclear plant builds of the future."
McDermott is an engineering and construction company, with specialty manufacturing and service capabilities, focused on energy infrastructure. McDermott's customers are predominantly utilities and other power generators, major and national oil companies, and the United States Government. With its global operations, McDermott operates in over 20 countries with more than 20,000 employees, and can be found on the internet at www.mcdermott.com.
In accordance with the Safe Harbor Safe Harbor
1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.
2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, McDermott International, Inc. cautions that statements in this press release which are forward-looking and provide other than historical information involve risks and uncertainties that may impact McDermott's actual results of operations. The forward-looking statements in this press release include, among other things, the work scope and timing associated with the FirstEnergy Nuclear Operating Company operating company
A business that engages in transactions with outsiders. project. Although McDermott's management believes that the expectations reflected in those forward-looking statements are reasonable, McDermott can give no assurance that those expectations will prove to have been correct. Those statements are made based on various underlying assumptions and are subject to numerous uncertainties and risks, including without limitation currency exchange rates, potential change orders and other modifications to contracts. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. For a more complete discussion of these risk factors, please see McDermott's annual report on Form 10-K for the year ended December 31, 2006 filed with the Securities and Exchange Commission.