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News Releases

B&W Announces $79 Million Naval Nuclear Fuel Contract Extension

11 February 2011

The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary Nuclear Fuel Services, Inc. (NFS) has been awarded a contract extension totaling approximately $79 million. The 2011 contract extension is for the continued manufacture and delivery of fuel and support activities for the U.S. Naval Nuclear Propulsion program.

"We are pleased that NFS is continuing its work in support of the nation's critical defense programs," said Mary Pat Salomone, Chief Operating Officer of B&W. "We are proud that NFS is continuing its 50-plus year history of providing the fuel for our nation's vital Naval Nuclear Propulsion program."

NFS manufactures nuclear fuel for the U.S. Navy's fleet of nuclear-powered aircraft carriers and submarines. NFS also processes HEU in a highly secure (Category 1) facility, which is licensed by the U.S. Nuclear Regulatory Commission (NRC).

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 12,000 people, in addition to approximately 10,000 joint venture employees. Learn more at www.babcock.com.

About NFS

Located in Erwin, Tenn., NFS operates a uranium fuel materials production facility to support America's fleet of nuclear-powered submarines and aircraft carriers. It also converts Cold War-era government stockpiles of highly enriched uranium into material suitable for further processing into commercial nuclear reactor fuel.