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Babcock & Wilcox

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Not to be confused with Babcock International.
Babcock & Wilcox Enterprises
Company typePublic
NYSE: BW
Industry
Founded1867; 157 years ago (1867)
Founders
Headquarters
Charlotte, North Carolina
,
United States
Area served
Worldwide
Key people
  • John A. Fees (Chairman)
  • James E. Ferland (President & CEO)
  • Mary Pat Salomone (COO)
  • Christofer M. Mowry (President, B&W NE)
  • Peyton S. (Sandy) Baker (President, B&W NOG)
  • Randy Data (President, B&W PGG)
  • George Dudich (President, B&W TSG)
Products
  • Fossil and Nuclear Power Plants
  • Research and Development
  • Government Operations
RevenueIncrease US$1.6 billion (2015)
Increase US$21.9 million (2015)
Increase US$19.3 million (2015)
Total assetsIncrease US$1.7 billion (2015)
Total equityIncrease US$748.4 million (2015)
Number of employees
12,700 (2011)
Websitewww.babcock.com
Footnotes / references
[1]

Babcock & Wilcox Enterprises (NYSE: BW) is an American power generation company headquartered in Charlotte, North Carolina.

Background

The company was founded in 1867 by Stephen Wilcox and George Babcock as Babcock, Wilcox & Company to manufacture and market Wilcox’s patented water-tube boiler. B&W's list of innovations and firsts include the world’s first installed utility boiler (1881); manufacture of boilers to power New York City’s first subway (1902); first pulverized coal power plant (1918); design and manufacture of components for USS Nautilus, the world’s first nuclear-powered submarine (1953–55); the first supercritical pressure coal-fired boiler (1957); design and supply of reactors for the first U.S. built nuclear-powered surface ship, NS Savannah (1961).[2]

The company previously known as The Babcock & Wilcox Company provided design, engineering, manufacturing, construction and facilities management services to nuclear, renewable, fossil power, industrial and government customers worldwide. B&W's boilers supply more than 300,000 megawatts of installed capacity in over 90 countries around the world. A reactor from B&W was destroyed by a nuclear meltdown in the Three Mile Island accident. During World War II, over half of the US Navy fleet was powered by Babcock & Wilcox boilers. The company has its headquarters in Charlotte, North Carolina. It has major operations in Lynchburg, Virginia; Barberton, Ohio; Euclid, Ohio; Lancaster, Ohio; West Point, Mississippi; Mount Vernon, Indiana; Oak Ridge, Tennessee; Erwin, Tennessee; Amarillo, Texas; Cambridge, Ontario; the Danish city of Esbjerg; and the German city of Straubing. B&W also has joint major joint venture companies in Beijing and the Indian city of Pune.[3]

On June 30, 2015, Babcock & Wilcox completed a spinoff from BWX Technologies, its former parent which is now headquartered in Lynchburg, Virginia. The two companies began trading separately on July 1.[4]

B&W employs approximately 12,700 people, in addition to approximately 10,400 joint venture employees.[3]

Power Generation Group

The Babcock & Wilcox nuclear steam generator is seen at the company's plant at Barberton, Ohio prior to shipment via the Penn Central Railroad to a Duke Energy site in Oconee, S.C. This generator can convert more than 10 million pounds of water per hour into steam.

B&W Power Generation Group, Inc. (B&W PGG) is based in Barberton, Ohio and provides engineering, design, construction and manufacturing services to the fossil and renewable power generation sectors and to heavy industry worldwide. B&W PGG and its subsidiaries have facilities in Ohio; Indiana; Mississippi; Beijing, China; Esbjerg, Denmark; and technology licensees around the world.[5]

Other related companies

History

The old B&W company logo, showing the world as an Aeolipile.
Babcock & Wilcox Co. works, Bayonne, New Jersey, circa 1919
1913 Babcock & Wilcox boiler section
  • In 1867, Providence, Rhode Island, residents Stephen Wilcox and his partner George Herman Babcock patented the Babcock & Wilcox Non-Explosive Boiler, which used water filled tubes and de-nucleate boiling to generate steam more safely than either under-fire or fire-tube boilers. The boilers more safely generated higher pressure steam and was more efficient (as an energy to steam converter) than existing designs.[6]
  • In 1891, Babcock & Wilcox Ltd is established as a separate United Kingdom company, to be responsible for all sales outside the US and Cuba.[7]
  • In 1898, Robert Jurenka and Alois Seidl signed an agreement with the British Babcock & Wilcox Ltd to make the Berlin, Germany Babcock sales office into a subsidiary of the British company; a factory in Oberhausen in the Ruhr district made the boiler designed by the American engineers.[8]
  • In 1902 the New York City's first subway is powered by B&W boilers.[9]
  • During 1907 and 1909 Theodore Roosevelt's Great White Fleet were powered by B&W Boilers.
  • In 1929 B&W installs the world's first commercial size recovery boiler using the magnesium bisulfite process in Quebec, Canada.[10]
  • Between 1941 and 1945 B&W designed and delivered 4,100 marine boilers for combat and merchant ships, including 95 percent of the US fleet in Tokyo Bay at Japanese surrender.
  • In 1942, the company developed the cyclone furnace.
  • Between 1943 and 1945 B&W provided components, materials and process development for Manhattan Project.[6]
  • Between 1949 and 1952 B&W provided the 8 boilers for the SS United States, the fastest ocean liner ever constructed.
  • Between 1953 and 1955 B&W designed and fabricated components for USS Nautilus (SSN-571), world’s first nuclear-powered submarine.
  • In 1961 B&W designed and supplied reactors for world’s first commercial nuclear ship NS Savannah.
  • In 1962 B&W designed and furnished reactor systems for B&W's first commercial reactor, Indian Point, using HEU 233.
  • In 1975 B&W designed and built components for liquid metal fast breeder reactors.
  • In 1975 the long term business agreements with the British Babcock & Wilcox Ltd were ended. Subsequently, the British company was renamed Babcock International Group plc.
  • In 1978 B&W designed and built the nuclear reactor that was involved in the Three Mile Island accident.
  • In 1999 B&W was awarded the contract to develop fuel cells and steam reforming for US Navy.
  • On February 22, 2000, B&W filed for Chapter 11 bankruptcy in part as a result of thousands of claims for personal injury due to prolonged exposure to asbestos and asbestos fibers. Claims included asbestosis, lung cancer, pleural and peritoneal mesothelioma. As a condition of emerging from bankruptcy, B&W created a trust fund to compensate victims, but for amounts far less than settlements paid in individual personal injury lawsuits.[11]
  • After B&W emerged from bankruptcy in 2006, B&W and BWX Technologies, both subsidiaries of the McDermott International, Inc., merged on 26 November 2007 to form The Babcock & Wilcox Companies, headed by President John Fees. The old company logo was changed.
  • On June 10, 2009, B&W unveiled B&W Modular Nuclear Energy, LLC (B&W MNE).[12] On the same day, B&W MNE announced its plans to design and develop the B&W mPower reactor, a modular, scalable nuclear reactor. The B&W mPower reactor design is a 125 megawatt, passively safe Advanced Light Water Reactor (ALWR) (a Generation III reactor) with a below-ground containment structure.[13] The reactor is set to be manufactured in a factory, shipped by rail, then buried underground.[14][15]
  • On May 12, 2010, B&W announced that it and its subsidiaries would be spun off from its parent company, McDermott International, Inc.[16] The headquarters moved from Lynchburg, Virginia to Charlotte.[17] and the company became The Babcock & Wilcox Company.
  • On August 2, 2010, B&W began trading on the New York Stock Exchange as BWC.[18]
  • On July 1, 2015, Babcock & Wilcox and BWX Technologies, its former parent headquartered in Lynchburg, Virginia, began trading separately.[4]

See also

References

  1. ^ Babcock & Wilcox Enterprises, Inc. (25 February 2016). "Form 10-K 2015". SEC EDGAR. Retrieved June 10, 2016.
  2. ^ Steam/its generation and use, 41st Edition
  3. ^ a b http://pdf.secdatabase.com/917/0001193125-12-089188.pdf
  4. ^ a b Downey, John (July 1, 2015). "Babcock & Wilcox completes spinoff; two independent companies begin public trading". Charlotte Business Journal. Retrieved July 2, 2015.
  5. ^ Power Generation for the Future Template:Wayback
  6. ^ a b "About B&W - History". Archived from the original on 1 April 2009. Retrieved 2009-04-01. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  7. ^ "Records of Babcock International Group plc." Glasgow University Archive Services
  8. ^ "Deutsche Babcock AG--Company History". fundinguniverse.com. Retrieved 2010-05-25.
  9. ^ "Records of Babcock International Group plc, boiler makers and engineers, England". Retrieved 2009-04-28.[dead link]
  10. ^ "B&W Power Generation Group: Company History". Archived from the original on 2008-02-06. Retrieved 2009-04-01.
  11. ^ http://www.thefreelibrary.com/Babcock+&+Wilcox+Bankruptcy+Reorganization+Bar+Date+Notice+and+Claims...-a067463016 Babcock & Wilcox Bankruptcy Reorganization Bar Date Notice and Claims Process Begins; Includes Apollo and Parks Township, Pennsylvania Nuclear Contamination And Radiation Claims
  12. ^ Babcock & Wilcox plans modular reactor Template:Wayback
  13. ^ B&W unveils modular nuclear power design
  14. ^ DiSavino, Scott (Jun 10, 2009). "McDermott B&W unit unveils small nuclear reactor". Reuters. Retrieved Jun 10, 2009.
  15. ^ Katherine Ling and GreenWire (June 10, 2009). "Company Calls New Small Nuclear Reactor a 'Game Changer'". New York Times. Retrieved June 10, 2009.
  16. ^ Gentry, B.:http://www2.newsadvance.com/lna/business/local/article/fees_bw_spinoff_aiming_for_june_30_completion/26899/, The News & Advance, May 12, 2010
  17. ^ Peralta, Katherine (June 9, 2015). "Babcock & Wilcox approves spinoff, sets split date for July 1". The Charlotte Observer. Retrieved July 3, 2015.
  18. ^ "The Babcock & Wilcox Company Begins Trading Today on the New York Stock Exchange". BUSINESS WIRE. Aug 2, 2010. Retrieved Aug 4, 2010.

External links

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