B&W Awarded Boiler Contract from SaskPower

  B&W Awarded Boiler Contract from SaskPower

Business Wire

CHARLOTTE, N.C. -- April 26, 2012

The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its
subsidiary Babcock & Wilcox Canada Ltd. (B&W Canada) has been awarded a
contract valued at more than $25 million from SaskPower to design and replace
the upper frontwall and a portion of the reheater at SaskPower’s Shand Power
Station near Estevan, Saskatchewan.

Shand Power Station features boiler technology originally designed and
supplied by B&W Canada. This retrofit project is an integral part of the
coal-fired station’s life extension.

“B&W is committed to executing this retrofit project in a safe, timely and
efficient manner,” said Babcock & Wilcox Power Generation Group, Inc.
President and Chief Operating Officer J. Randall Data. “We’re pleased that
SaskPower has chosen us and look forward to providing project support on this
important pressure part retrofit at Shand Power Station.”

“Shand provides about 300 megawatts of baseload power to Saskatchewan,” said
Robert Watson, SaskPower President and Chief Executive Officer. “As an
integral part of our generating fleet it’s critical that we make sure the
station is operating at peak performance.”

The project is expected to be completed in June of 2012.

About B&W

Headquartered in Charlotte, N.C., The Babcock & Wilcox Company is a leader in
clean energy technology and services, primarily for the nuclear, fossil and
renewable power markets, as well as a premier advanced technology and mission
critical defense contractor. B&W has locations worldwide and employs
approximately 12,700 people, in addition to approximately 10,400 joint venture
employees. Learn more at www.babcock.com.

Cautionary Statement Regarding Forward Looking Statements

B&W cautions that this release contains forward-looking statements, including
statements relating to the expected completion of the SaskPower
contract.Forward-looking statements involve a number of risks and
uncertainties, including, among other things, delays or other difficulties
executing on contracts in backlog.If one or more of these or other risks
materialize, actual results may vary materially from those expressed.For a
more complete discussion of these and other risk factors, please see B&W’s
filings with the Securities and Exchange Commission, including its annual
report on Form 10-K for the year ended December 31, 2011.B&W cautions not to
place undue reliance on these forward-looking statements, which speak only as
of the date hereof, and undertakes no obligation to update or revise any
forward-looking statement, except to the extent required by applicable law.

Contact:

The Babcock & Wilcox Company
Media Contacts:
Ryan Cornell, 330-860-1345
rscornell@babcock.com
or
Investor Contact:
Michael P. Dickerson, Vice President and Investor Relations Officer,
704-625-4944
investors@babcock.com
OR
SaskPower
James Parker, 306-566-3167
Cell: 306-536-2886
jparker@saskpower.com
 
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