Babcock & Wilcox to split into two companies Tuesday

Charlotte energy company Babcock & Wilcox is expected to split into two publicly traded companies Tuesday.

The company will spin off its power-generation and pollution-control equipment business into a separate entity called Babcock & Wilcox Enterprises Inc., which will operate as Babcock & Wilcox, the company has said. It will remain in Charlotte.

The remaining business, the government and nuclear operations business, will change its name to BWX Technologies Inc. and will be headquartered in Lynchburg, Va.

Babcock & Wilcox and BWX Technologies -- under the respective ticker symbols “BW” and “BWTX” -- are expected to start trading on the New York Stock Exchange on July 1.

The company said in October that it was considering a split, and its board of directors approved the spinoff earlier this month.

Babcock & Wilcox offers advanced engineering, manufacturing and construction services in a range of energy fields, from nuclear to coal. The company has about 175 employees at its Ballantyne headquarters.

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