Nuclear subsidiary of Babcock & Wilcox gets $510 million in defense contracts
The nuclear operations subsidiary of Charlotte-based Babcock & Wilcox Co. has been awarded $510 million in contracts for U.S. defense programs.
The subsidiary, which includes operations in Lynchburg, will make nuclear components such as naval nuclear power systems for submarines and aircraft carriers. The money for the contracts was appropriated in the fourth quarter of 2012.
More than $445 million of the contract amount was issued as options under the $2 billion contract awarded to B&W Nuclear Operations Group in 2010 and more than $65 million is issued under a new agreement awarded for fiscal year 2013.
Work will be performed at B&W Nuclear Operations Group ‘s facilities in Lynchburg, Mt. Vernon, Ind., and Barberton and Euclid, Ohio, over an eight-year period..
The Nuclear Operations Group employs more than 3,900 people.