Date: June 1, 2011
Source: Babcock & Wilcox Company
Energy services and technology company Babcock & Wilcox (Charlotte, NC) said that its technical services subsidiary (TSG) won a $417 million contract to operate a government waste-treatment project. The company said the U.S. Energy Department awarded the contract to Idaho Treatment Group LLC, which was formed by Babcock & Wilcox, URS Corp. and EnergySolutions Federal Services Inc. Idaho Treatment Group expects to take over operations at the site from around Aug. 1 through September 2015. Waste from the site is to be shipped to New Mexico. "Successful completion of this project in the next few years is expected to achieve a major environmental clean-up milestone and further demonstrate B&W's capabilities in nuclear materials processing and waste management," said S. Robert Cochran, President of B&W TSG.
June 1, 2011
B&W Announces $417 Million Waste Management Contract at Department of Energy Facility
The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary Babcock & Wilcox Technical Services Group, Inc. (B&W TSG) has been notified of a contract award estimated at approximately $417 million to Idaho Treatment Group LLC (ITG) to manage and operate the U.S. Department of Energy's Advanced Mixed Waste Treatment Project (AMWTP) at the Department's Idaho Site. ITG has been formed by majority partner B&W TSG, URS Corporation, and EnergySolutions Federal Services, Inc. ITG's four pre-selected small business subcontractors include Safety and Risk Analysis Consulting, Inc.; Strategic Management Solutions, LLC; Visionary Solutions, LLC; and Cabrera Services, Inc.
ITG is preparing to assume operations at the site on or about August 1, 2011, under a contract that runs through September 30, 2015.
"Successful completion of this project in the next few years is expected to achieve a major environmental clean-up milestone and further demonstrate B&W's capabilities in nuclear materials processing and waste management," said S. Robert Cochran, President of B&W TSG. "We appreciate the Department of Energy's confidence in our ability to deliver on the commitments we made in our proposal."
The AMWTP is committed to meeting all technical and regulatory requirements to safely retrieve, characterize, treat and package transuranic waste for shipment out of Idaho to permanent disposal at the Waste Isolation Pilot Plant in New Mexico. AMWTP is the Department of Energy's most advanced waste treatment facility and is a cornerstone of its commitment to prepare and ship waste out of Idaho.
To learn more, visit www.idahotreatmentgroup.com.
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 10,000 joint venture employees. Learn more at www.babcock.com.
URS Corporation (NYSE: URS) is a leading provider of engineering, construction and technical services for public agencies and private sector companies around the world. The Company offers a full range of program management; planning, design and engineering; systems engineering and technical assistance; construction and construction management; operations and maintenance; and decommissioning and closure services. URS provides services for power, infrastructure, industrial and commercial, and federal projects and programs. Headquartered in San Francisco, URS Corporation has approximately 47,000 employees in a network of offices in more than 40 countries (www.urs.com).
EnergySolutions offers customers a full range of integrated services and solutions, including nuclear operations, characterization, decommissioning, decontamination, site closure, transportation, nuclear materials management, processing, recycling, and disposition of nuclear waste, and research and engineering services across the nuclear fuel cycle.
Cautionary Statement Regarding Forward Looking Statements
B&W cautions that statements in this release that are not historical fact may constitute forward-looking statements, including statements relating to the value, timing and completion of the project. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays, changes or other difficulties experienced on the AMWTP project. If these or other risks materialize, actual results may vary materially from those expected. For a more complete discussion of these and other risk factors, please see B&W's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2010, as supplemented by its quarterly reports on Form 10-Q. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Public Relations Manager
The Babcock & Wilcox Company
Michael P. Dickerson
Vice President and Investor Relations Officer
The Babcock & Wilcox Company