B&W to Supply CFB Boiler and Emissions Control Equipment for Great River Energy.HOUSTON -- McDermott International, Inc. (NYSE NYSE See: New York Stock Exchange :MDR MDR, n See multidrug resistance. MDR, n the abbreviation for minimum daily requirement, specifically the Minimum Daily Requirements for Specific Nutrients compiled by the United States Food and Drug Administration. ) ("McDermott") announced today that a subsidiary of The Babcock & Wilcox Company ("B&W") has been awarded a contract valued at more than $70 million to engineer and supply a circulating fluidized bed ("CFB CFB Canadian Forces Base ") boiler and related emissions control equipment for Great River Energy's Spiritwood Station - a combined heat and power plant near Spiritwood, North Dakota. In addition to the CFB boiler, B&W will design and supply Spiritwood's advanced air quality control system, including a pulse jet fabric filter baghouse for particulate control, a spray dry absorber flue gas desulfurization Flue gas desulfurization (FGD) is the current state-of-the art technology used for removing sulfur dioxide (SO2) from the exhaust flue gases in power plants that burn coal or oil to produce steam for the steam turbines that drive their electricity generators. system and a selective non-catalytic reduction Selective Non Catalytic Reduction (SNCR) is a method for reducing nitrogen oxide emissions in conventional power plants that burn biomass, waste and coal. The process involves injecting either ammonia or urea into the firebox of the boiler at a location where the flue gas is system for nitrogen oxides control. The CFB boiler will be designed to burn lignite lignite (lĭg`nīt) or brown coal, carbonaceous fuel intermediate between coal and peat, brown or yellowish in color and woody in texture. coal. "This is the first project B&W has done for Great River Energy and it presents an outstanding opportunity to showcase our well-established CFB and environmental systems technology and meet the needs of our customer," said Brandon Bethards, President of B&W's Power Generation Group. Engineering is underway at B&W's Barberton, Ohio facility and at Babcock & Wilcox Beijing Company ("BWBC") Ltd., B&W's joint venture in Beijing, China. B&W also will procure certain pressure parts for the boiler from BWBC. Commercial operation of Spiritwood is scheduled to begin in March 2010. 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 value, work scope and timing associated with the Spiritwood Station contract. 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 potential change orders to, other potential modifications to, and difficulty in executing the 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2007 filed with the Securities and Exchange Commission. |
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