LYNCHBURG, Va.--(BUSINESS WIRE)--BWX Technologies, Inc. (NYSE:BWXT) announced today that the U.S. Department of Energy has awarded Fluor-BWXT Portsmouth, LLC (FBP) a 30-month contract extension valued at approximately $850 million. BWXT is a partner in the FBP joint venture.
FBP is responsible for decontamination and decommissioning (D&D) of the Portsmouth Gaseous Diffusion Plant (GDP). The scope of the project includes deactivation and preparation for demolition and disposal of all GDP facilities, process equipment, related process buildings and other ancillary facilities. It also includes continued environmental remediation, uranium stewardship and community outreach programs.
“BWXT and Fluor are performing very important work at Portsmouth, and we are exceedingly pleased that the Energy Department extended this contract to ensure continuity of the effort,” said Rex Geveden, BWXT’s president and chief executive officer. “We remain squarely focused on safe and efficient project execution as we work to steadily reduce the environmental liabilities at the site.”
The Portsmouth GDP operated from 1954 to 2001. Located in Pike County, Ohio, the plant occupies about 1,200 acres. The plant was one of three large gaseous diffusion plants in the U.S. initially constructed to produce enriched uranium to support the nation’s nuclear weapons program and, in later years, enriched uranium used by commercial nuclear reactors. The Department of Energy began its environmental cleanup program at the site in 1989, and the effort continues today in cooperation with the U.S. and Ohio Environmental Protection Agencies.
Forward-Looking Statements
BWXT cautions that this
release contains forward-looking statements, including statements
relating to the performance, timing, impact and value, to the extent
contract value can be viewed as an indicator of future revenues, of the
contract extension. These forward-looking statements involve a number of
risks and uncertainties, including, among other things, modification or
termination of the contract and delays. If one or more of these
or other risks materialize, actual results may vary materially from
those expressed. For a more complete discussion of these and other risk
factors, please see BWXT’s annual report on Form 10-K for the year ended
December 31, 2017 and subsequent quarterly reports on Form 10-Q filed
with the Securities and Exchange Commission. BWXT cautions not to place
undue reliance on these forward-looking statements, which speak only as
of the date of this release, and undertakes no obligation to update or
revise any forward-looking statement, except to the extent required by
applicable law.
About BWXT
Headquartered in Lynchburg, Va., BWX
Technologies, Inc. (NYSE:BWXT) is a leading supplier of nuclear
components and fuel to the U.S. government; provides technical and
management services to support the U.S. government in the operation of
complex facilities and environmental remediation activities; and
supplies precision manufactured components, services and fuel for the
commercial nuclear power industry. With approximately 6,250 employees,
BWXT has 11 major operating sites in the U.S. and Canada. In addition,
BWXT joint ventures provide management and operations at more than a
dozen U.S. Department of Energy and NASA facilities. Follow us on
Twitter @BWXTech and learn more at www.bwxt.com.