Babcock & Wilcox unit awarded up to $302M in cotnracts fuel & materials services The Babcock & Wilcox Company announced that its subsidiary Nuclear Fuel Services has been awarded two new contracts for fuel and materials services totaling up to approximately $302M from the U.S. Department of Energy, Naval Reactors Laboratory Field Office. The first contract is a one-year contract with a one-year option, which includes the manufacture and delivery of fuel and support activities for the U.S. Naval Nuclear Propulsion Program. NFS has been the sole manufacturer of nuclear fuel for the U.S. Navy's fleet of nuclear-powered aircraft carriers and submarines since 1964. The second award is also a one-year contract with a one-year option, which provides for the development of material for future Naval Reactors programs. Work under the contracts will be performed at NFS facilities in Erwin, Tenn. This work began in January 2014 and is scheduled to continue through February 2016.
BWX Technologies would be M&A fit for Huntington Ingalls, says Deutsche Bank Deutsche Bank noted that the planned spin-off of BWX Technologies (BWXT) from Babcock & Wilcox (BWC) is scheduled to be completed this week on July 1, stating that it believes the spun off company is likely to attract the attention of strategic players such as Huntington Ingalls (HII) and General Dynamics (GD). The firm thinks the potential M&A fit looks "most striking" for Huntington and estimates that a deal multiple could reach 10-11X the about $300M in EBITDA at BWX Technologies, which would likely be "worth the stretch" for the shipbuilder.