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Stock Market & Financial Investment News

News Breaks
January 28, 2013
08:45 EDTBWCBabcock & Wilcox names Kairus K. Tarapore as Chief Administrative Officer
The Babcock & Wilcox Company announced that Kairus K. Tarapore is named Chief Administrative Officer, effective immediately. Tarapore replaces former B&W Senior Vice President and Chief Human Resources Officer Vangel Athanas, who is leaving B&W to pursue other opportunities. Prior to joining B&W, Mr. Tarapore served as Executive Vice President, Human Resources, for Ceridian Corporation from 2006 to 2012.
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April 14, 2014
08:40 EDTBWCB&W announces restructuring of Small Modular Reactor program
Babcock & Wilcox is announcing plans to restructure its mPower Small Modular Reactor program to focus on technology development. B&W continues to believe in the strength of the mPower technology, but without the ability to secure significant additional investors or customer Engineering, Procurement and Construction contracts to provide the financial support necessary to develop and deploy mPower reactors, the current development pace will be slowed. B&W notified the U.S. Department of Energy of its plans for reduced spending, indicating it would work with the DOE and other stakeholders during the next one to two months to confirm the best path to develop a mutually agreeable plan including program milestones for continuing the cost-shared industry partnership program. B&W expects to invest up to $15M annually, beginning in 3Q14.

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