Babcock & Wilcox Receives Contracts Totaling $24 Million for Three Middle East Industrial Boilers

Babcock & Wilcox (B&W) (NYSE: BW) announced today 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. “We serve customers in the petrochemical, oil and gas, utility and manufacturing industries throughout the region, and demand for boiler equipment, parts and services remains high as these companies look to grow and expand their operations. We look forward to delivering reliable, durable and efficient industrial boilers to meet our customers’ needs.”

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.

About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at babcock.com.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the receipt of contracts for three industrial boilers for petrochemical facilities in the Middle East and Central Asia regions. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240320307074/en/