Babcock & Wilcox Awarded Environmental Equipment Contract
16 May 2006 - 11:33PM
Business Wire
McDermott International, Inc. (NYSE:MDR) announced today that its
subsidiary, The Babcock & Wilcox Company ("B&W"), has been
awarded a contract valued in excess of $70 million to supply and
construct wet flue gas desulfurization (WFGD) systems at Detroit
Edison's Monroe Power Plant in Monroe, Michigan. The Monroe plant,
one of the largest coal-fired plants in the U.S., is operated by
Detroit Edison, a subsidiary of DTE Energy. B&W will design and
install the sulfur dioxide (SO2)-reducing equipment, also known as
scrubbers, on the plant's Units 3 and 4, which are each 825
megawatt pulverized coal-fired boilers originally supplied by
B&W in 1973. The plant burns a blend of Powder River Basin and
Central Appalachian coals. "DTE Energy is well known for its
service to customers and commitment to the environment," said David
L. Keller, B&W president and chief operating officer. "We are
proud to team with the Monroe plant and provide our
state-of-the-art scrubber technology to help them reduce SO2 and
mercury emissions." The contract calls for the supply of two wet
scrubbers, common reagent preparation system and common dewatering
systems, along with the construction of all supplied equipment.
Design and engineering for the two WFGD systems are currently
underway at B&W's headquarters in Barberton, Ohio. Babcock
& Wilcox Construction Co., Inc., a B&W subsidiary, will
erect the equipment. Unit 4 is scheduled to be completed by 2008,
and Unit 3 in 2009. Detroit Edison is an investor-owned electric
utility serving 2.2 million customers in Southeastern Michigan and
a subsidiary of DTE Energy (NYSE:DTE), a Detroit-based diversified
energy company involved in the development and management of
energy-related businesses and services nationwide. Information
about DTE Energy is available at www.dteenergy.com. The Babcock
& Wilcox Company is a subsidiary of McDermott International,
Inc., a leading worldwide energy services company. McDermott's
subsidiaries provide engineering, construction, installation,
procurement, research, manufacturing, environmental systems,
project management and facility management services to a variety of
customers in the energy and power industries, including the U.S.
Department of Energy. Additional information on McDermott can be
obtained at www.mcdermott.com. In accordance with the Safe Harbor
provisions of the Private Securities Litigation Reform Act 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, timing and the value of the Detroit
Edison Monroe plant 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 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 filings with the Securities and
Exchange Commission including its annual report on Form 10-K for
the year ended December 31, 2005.
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