Babcock & Wilcox Spin-off Approved, New Company To Begin Operations July 1

A Babcock & Wilcox Company spin-off that will separate the power generation unit from government services was approved this week and will go into effect on July 1, B&W announced Monday. The Power Generation spin-off, which has been in the works since last November and was approved by B&W’s Board of Directors this week, will create a separate public company headquartered in Charlotte, North Carolina, that “will continue to be a leader in clean energy and environmental technologies for the power and industrial sectors,” the statement says. It also notes that the rest of B&W will take on the name BWX and continue its work “in the operation of complex facilities,” which include NNSA’s national labs. According to the announcement, “the Board of Directors believes these two companies will benefit from independent management teams, strategic autonomy, and financial flexibility to create significant long-term shareholder value.”