Warning: Javascript must be enabled within your browser's settings for this site to function properly.

Your browser appears to be out of date, and is not supported by this site. For the best experience, we recommend that you upgrade to a more modern browser. You can find a list of modern browsers from www.browsehappy.com.

News

BWXT Nuclear Energy Canada Awarded CA$34 Million Contract for Primary Heat Transport Motors

02 August 2017
Anonymous

BWX Technologies, Inc. (NYSE:BWXT) announced today that its subsidiary BWXT Nuclear Energy Canada Inc. (BWXT NEC) has been awarded a CA$34 million, five year contract to supply seven primary heat transport motors for Bruce Power.

(PETERBOROUGH, ON – August 2, 2017) –BWX Technologies, Inc. (NYSE:BWXT) announced today that its subsidiary BWXT Nuclear Energy Canada Inc. (BWXT NEC) has been awarded a CA$34 million, five year contract to supply seven primary heat transport motors for Bruce Power. The motors are part of Bruce Power’s life-extension program that will extend the life of six of its reactors to continue providing Ontario with clean, low-cost and reliable electricity for decades to come. 

The primary heat transport motors are required to drive the main circulating pumps used to push heavy water through the reactor core into the steam generators.The scope of the contract includes the project management, engineering and manufacturing of seven 11,000 horsepower motors. Work under this contract will commence immediately with the first motor scheduled to be delivered to Bruce Power in mid-2018.

“We appreciate the opportunity to execute this important project for Bruce Power and take great pride in our contributions to its life extension program,” said John MacQuarrie, president of BWXT Canada Ltd. and BWXT NEC. “BWXT is pleased to be in a position to supply its customers with a multitude of product and service solutions to assist them in extending the lives of their nuclear plants.”

“Partnering with BWXT for this important motor work is critical to ensuring the life extension and operation through 2064,” said Mike Rencheck, Bruce Power’s president and CEO. “Planning and preparation is key to our continued on-time and on-budget performance since January 2016 when our life extension program was started. Suppliers like BWXT and their performance are critical to our success; it’s a team effort.”

“Nuclear energy plays a significant role to Ontario’s economy and it is great to see the positive effects of Bruce Power’s life extension project being felt right here in Peterborough,” said Jeff Leal, Member of Provincial Parliament. “Throughout its program to extend the life of six of its reactors, Bruce Power will inject billions into Ontario’s economy and generate thousands of jobs.”

Bruce Power supplies 30% of Ontario’s electricity at 30% less than the average cost to generate residential power. Extending the operational life of the Bruce Power units to 2064 will create and sustain 22,000 direct and indirect jobs every year, create $4 billion in annual Ontario economic benefit, and will ensure low-cost, clean and reliable energy for Ontario families and businesses.  

Forward Looking Statements

BWXT cautions that this release contains forward-looking statements, including statements relating to the performance, timing and value, to the extent contract value can be viewed as an indicator of future revenues, of the Bruce Power contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, modification or termination of the contract and delays.  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 BWXT’s annual report on Form 10-K for the year ended December 31, 2016 and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. BWXT cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

About BWXT Nuclear Energy Canada Inc.

BWXT Nuclear Energy Canada Inc. (BWXT NEC), a subsidiary of BWXT Canada Ltd., has more than 60 years of extensive experience and innovation in the supply of nuclear fuel and fuel channel components, services, equipment and parts for the CANDU® nuclear power industry. This includes designing and supplying highly reliable nuclear equipment to fuel, inspect and refurbish reactors. BWXT NEC employs approximately 350 skilled employees at three locations in Ontario: Peterborough, Toronto and Arnprior. Learn more at www.nec.bwxt.com.

About Bruce Power

Formed in 2001, Bruce Power is an electricity company based in Bruce County, Ontario. We are powered by our people. Our 4,200 employees are the foundation of our accomplishments and are proud of the role they play in safely delivering clean, reliable, low-cost nuclear power to families and businesses across the province. Bruce Power has worked hard to build strong roots in Ontario and is committed to protecting the environment and supporting the communities in which we live. Learn more at www.brucepower.com and follow us on Facebook, Twitter, LinkedIn, Instagram and YouTube.

Media Contacts:

Sara Forsey 
BWXT Nuclear Energy Canada 
705.927.0429 
sforsey@bwxt.com 

John Peevers 
Bruce Power 
519-361-6583 
john.peevers@brucepower.com

BWXT Investor Contact:

Alan Nethery 
Vice President, Investor Relations                   
980.365.4300 
investors@bwxt.com


BWXT Completes Acquisition of GE Hitachi Nuclear Energy Canada Inc.

19 December 2016
Anonymous

BWX Technologies, Inc. (NYSE:BWXT) announced today that its subsidiary BWXT Canada Ltd. (BWXT Canada) has completed its acquisition of the GE Hitachi Nuclear Energy Canada Inc. (GEH-C) joint venture, which will now operate as a subsidiary of BWXT Canada under the name BWXT Nuclear Energy Canada Inc. (BWXT NEC).

(PETERBOROUGH, ON– December 19, 2016) – BWX Technologies, Inc. (NYSE:BWXT) announced today that its subsidiary BWXT Canada Ltd. (BWXT Canada) has completed its acquisition of the GE Hitachi Nuclear Energy Canada Inc. (GEH-C) joint venture, which will now operate as a subsidiary of BWXT Canada under the name BWXT Nuclear Energy Canada Inc. (BWXT NEC).Mark Ward, president of GEH-C, has been named president of BWXT NEC and will continue to lead the subsidiary.

The completion of this acquisition was subject to successful regulatory approvals from the Canadian Competition Bureau, Investment Canada and the Canadian Nuclear Safety Commission (CNSC). The CNSC authorized the transfer of the GEH-C Class 1B Nuclear Fuel Facility Operating Licence to BWXT NEC. All conditions of the licence remain in full effect. The expiry date for the licence remains as Dec. 31, 2020.

“While this is an exciting time for our company, safety continues to be our top priority,” said Mark Ward, president, BWXT NEC. “Our name has changed, but our commitment to protecting the health and safety of workers, members of the public and the environment has not changed.”    

BWXT NEC will maintain its head office in Peterborough and its operations in Toronto and Arnprior, ON, with its activities operating as part of BWXT Canada's overall nuclear business. Collectively, these three locations employ over 350 highly skilled workers in a variety of areas from engineering to manufacturing and project management to finance.

“We are thrilled to expand our operations in Ontario and welcome all of the talented employees to the BWXT family,” said John MacQuarrie, president, BWXT Canada. “The expanded capabilities and expertise gained through this acquisition positions us well for long-term growth and will allow us to offer our customers more value through a more comprehensive suite of offerings.”

BWXT NEC has over 60 years of extensive experience and innovation in the supply of nuclear fuel and fuel channel components, services, equipment and parts for the CANDU® nuclear power industry. This includes designing and supplying highly reliable nuclear equipment to fuel, inspect and refurbish reactors. More information about the company can be found on its newly launched website nec.bwxt.com.

View PDF Release

-30-

 About BWXT Canada Ltd.

BWXT Canada Ltd. (BWXT Canada) has over 60 years of expertise and experience in the design, manufacturing, commissioning and service of nuclear power generation equipment. This includes CANDU® and Pressurized Water Reactor steam generators, nuclear fuel and fuel components, critical plant components, parts and related plant services. Headquartered in Cambridge, Ontario, BWXT Canada has approximately 850 employees at locations in Cambridge, Peterborough, Toronto and Arnprior, Ontario. BWXT Canada is a subsidiary of BWX Technologies, Inc. (NYSE:BWXT). BWXT is a leading supplier of nuclear components and fuel to the U.S. government; provides technical, management and site services to support governments in the operation of complex facilities and environmental remediation activities; and supplies precision manufactured components, fuel and services for the commercial nuclear power industry. Learn more at www.BWXT.com.

 Forward Looking Statements

BWXT cautions that this release contains forward-looking statements, including, without limitation, statements relating to the closing of the GEH-C acquisition, anticipated benefits and impacts of the acquisition, and management’s plans and expectations regarding the operations of GEH-C. These forward-looking statements involve a number of risks and uncertainties, including, among other things, our ability to integrate the business following closing, potential disruptions in our business as a result of the acquisition or integration, our ability to realize identified benefits and synergies associated with the acquisition, loss of key employees and adverse changes in the commercial nuclear industry. If one or more of these or other risks materialize, actual results may vary materially from those expected.For a more complete discussion of these and other risk factors, please see BWXT’s annual report on Form 10-K for the year ended December 31, 2015 and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. BWXT 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.

For more information, please contact:

Sara Forsey
BWXT Nuclear Energy Canada
705.927.0429
sforsey@bwxt.com

Natalie Cutler
BWXT Canada
519.242.8071
nacutler@bwxt.com