Babcock & Wilcox (NYSE: BW) watched its stock climb the charts Wednesday, on word that its B&W Thermal segment has been awarded contracts totaling approximately $24 million to design, manufacture and supply three industrial boilers and associated equipment for petrochemical facilities in the Middle East and Central Asia regions.
“B&W plays a pivotal role in bolstering the reliability and security of energy infrastructure globally, as we deploy our cutting-edge technologies, equipment and services,” said Chris Riker, Senior Vice President, B&W Thermal. “As energy demand continues to grow around the world, we are helping our customers keep their facilities running at peak efficiency.”
“These contracts further demonstrate the substantial growth B&W has experienced in the Middle East, Africa and Central Asia regions and underscores the continued robust demand for B&W’s products, parts and service solutions,” said Wassim Moussaoui, Managing Director, Babcock & Wilcox Middle East Holdings, Ltd.
B&W’s industrial boilers feature robust designs and fuel flexibility – with the capability to use oil, gas, hydrogen and a variety of other fuels – and are suitable for a wide array of industrial applications.
B&W’s growing Middle East, Africa and Central Asia presence includes offices in Saudi Arabia, Egypt, South Africa and a regional headquarters in Dubai, United Arab Emirates.
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide.
BW shares began the session up 13 cents, or 14.4%, to $1.03.
