BWC Wins Swedish Contract - Analyst Blog
01 April 2011 - 11:30PM
Zacks
Babcock & Wilcox Volund A/S
(B&W Volund), a subsidiary of The Babcock & Wilcox
Company (BWC )
announced that it has won
a contract worth more than $30 million from Sweden based Lidkoping
Varmeverk AB.
Per the terms of the agreement,
Babcock & Wilcox Company will design and supply a boiler,
combustion system, emissions control components and other equipment
for the development of a waste-to-energy, combined heat and power
plant in Lidkoping.
With engineering work already in
progress, the project appears on track to meet an early 2013
completion target.
In July 2010, Babcock & Wilcox
Company had separated from the energy-focused engineering and
construction company McDermott International Inc.
(MDR ) in a tax-free spin-off. In the
spin-off, each shareholder of McDermott received one share of
Babcock & Wilcox Company for every two shares of McDermott
stock that they possessed as of July 9.
In our opinion, the creation of two
pure-play companies offered both greater scopes to operate in
separate markets with concentrated managerial attention, organized
capital allocation as well as superior operational and strategic
flexibility.
Babcock & Wilcox Company is
engaged in providing clean energy technology and services,
primarily to nuclear, fossil and renewable power markets as well as
technology and mission critical defense contractors worldwide. The
Denmark-based unit B&W Volund supplies equipment and
technologies designed to convert household waste and biomass into
thermal energy.
Headquartered in Charlotte, North
Carolina, Babcock & Wilcox Company currently retains a Zacks #3
Rank, which translates in short-term Hold rating.
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