The Babcock and Wilcox plant in Lynchburg is getting some new work.
The company announced Wednesday morning that it's received contracts and orders from the U.S. Naval Reactors Program worth nearly $195 million.
The contracts support our country's defense department programs.
Work under those contracts will be done at the Babcock and Wilcox facility in Lynchburg, as well as at plants in Indiana and Ohio.
Earlier this month B&W announced that it will cut 211 jobs in the Lynchburg area, and a reduction in funding for its Generation mPower project.
Here is the news release from the company:
The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary B&W Nuclear Operations Group, Inc. (B&W NOG) has received contracts and orders from the U.S. Naval Reactors Program worth approximately $195 million.
Four new incrementally funded contracts totaling $76.8 million were awarded for engineering design, fabrication and further development work on the Ohio-class submarine replacement program.
A new contract valued at $18.8 million was also awarded for disassembly and recovery of highly enriched uranium materials in FY2014.
A $23.7 million incremental order for the manufacture of nuclear components to support U.S. defense programs, including the manufacture of U.S. Naval nuclear power systems for submarines and aircraft carriers, has also been released. This additional FY2014 order is part of a previously announced $1.3 billion contract.
In addition, an order for $76 million has been received for the procurement of material to be used in the assembly of nuclear propulsion components. This FY2014 release is part of a previously announced $366 million contract.
“B&W is pleased to receive these contracts supporting the U.S. defense programs, including the Ohio-class submarine replacement program and the overall mission of the U.S. Navy,” said Peyton S. Baker, President and Chief Operating Officer of B&W’s government operations. “Smart execution in our shops is of paramount importance to the safe, reliable and cost-effective delivery of this hardware and design services to the U.S. government.”
Work under these contracts will be performed at B&W NOG’s facilities in Lynchburg, Va., Mount Vernon, Ind. and Barberton and Euclid, Ohio.