The Babcock & Wilcox company split went into effect yesterday, separating the newly named BWX Technologies from the power generation spin-off Babcock & Wilcox Enterprises, the companies announced yesterday. BWXT began trading under its new ticker symbol yesterday on the New York Stock Exchange, according to the announcement. John Fees, executive chairman of BWXT, said in the release that the “standalone company . . . will have greater management focus on the distinct business of government and nuclear operations.”
B&W’s new business segments include a Global Services Division to handle “service projects” for energy customers, a Global Power Division for engineering and “construction of renewable and fossil fuel power plants,” and an Industrial Environmental Division focusing on “advanced environmental technologies,” according to the new company’s announcement.