Benzinga | Feb 23, 2021 06:32AM EST

B&W Thermal Highlights Receipt Of $13M In New Construction Service Contracts

Babcock & Wilcox (B&W) (NYSE:BW) announced today that its B&W Thermal segment has booked new construction service projects in North America valued at approximately $13 million as the market strengthens and projects continue to restart following delays in 2020.

The projects include services for a range of industries including pulp and paper, mining and petroleum refining and will be executed by Babcock & Wilcox Construction Co., LLC.

"We are seeing an overall strengthening of the market for energy and industrial construction projects in North America, and B&W Thermal is poised to capitalize on these emerging opportunities and grow our business," said B&W Chief Operating Officer Jimmy Morgan. "Many projects were delayed due to the impact of COVID-19 last year, but we're seeing customers now moving forward with necessary work that had been previously put on hold. The recent inclement weather also has forced higher loads within the utility sector and we anticipate stronger demand for parts and services going forward."

"B&W Thermal provides a full range of field construction, construction management and maintenance services for industrial and utility customers and we look forward to serving our customers for these new contracts, which include boiler repairs, equipment installation and other service work," Morgan said. "As the North American manufacturing sector continues to ramp up as the economy improves, we anticipate significant ongoing demand by customers for construction and maintenance services, and we're well-positioned to meet the needs of the market."

B&W Thermal operates regional construction offices strategically located across the U.S. and Canada to quickly and safely respond to fast turnaround requests and effectively manage projects. B&W provides construction services to a variety of industries, including power, oil & gas, oil sands, chemical and petrochemical, pulp & paper, renewables and waste-to-energy and general manufacturing.