BWXT Environmental Management Joint Venture Earns $243 Million Contract Extension

LYNCHBURG, Va.--(BUSINESS WIRE)--BWX Technologies, Inc. (NYSE: BWXT) announced today that the U.S Department of Energy (DOE) has extended CH2M Hill BWXT West Valley, LLC’s (CHBWV) cleanup contract at the West Valley Demonstration Project in New York State by an additional 39 months to June 2023. The purpose of the $243 million extension is to enable CHBWV to safely and efficiently complete deactivation, demolition and removal of the Main Plant Process Building, which was the only commercially operated nuclear fuel reprocessing plant in the United States, as well as other facility disposition activities.

“BWXT has successfully partnered with Jacobs and the DOE’s Office of Environmental Management at West Valley since the contract was awarded in 2011,” said Ken Camplin, president of BWXT’s Nuclear Services Group, Inc. “We appreciate that the DOE has recognized our performance at the site, and we remain committed to utilizing our nuclear operations and environmental expertise in fulfilling the cleanup mission on the project.”

Since it began work at West Valley, CHBWV has removed seven of the nine facilities surrounding the Main Plant Process Building and has completed 98% of the deactivation work required before it can be demolished. Significant infrastructure improvements have also been completed to support the current and future cleanup efforts at the site.

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 cleanup contract extension and the timing, benefits and impact of such contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, modification or termination of the contract. 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, 2019 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

At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong, Innovation Driven. Headquartered in Lynchburg, Va., BWXT provides safe and effective nuclear solutions for national security, clean energy, environmental remediation, nuclear medicine and space exploration. With approximately 6,600 employees, BWXT has 12 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 at @BWXTech and learn more at www.bwxt.com.