Babcock & Wilcox signs contract worth up to $1.3 billion

02/25/2014 10:01 AM

02/25/2014 11:19 AM

Charlotte-based Babcock & Wilcox said Tuesday that a subsidiary, B&W Nuclear Operations Group, has signed a government contract worth up to $1.3 billion.

The three-year contract is with the U.S. Naval Reactors Program. It’s for making nuclear components for defense programs including nuclear power systems for the Navy’s submarines and aircraft carriers.

Work will begin immediately on a $508 million order, B&W said. Subsequent orders may be placed for fiscal years 2014 through 2016, in addition to the subsidiary’s existing contracts.

Work under the contract will be performed at B&W Nuclear Operations Group’s sites in Lynchburg, Va., Mount Vernon, Ind. and Barberton and Euclid, Ohio.

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