McDermott Subsidiary to Supply Scrubbers to Maryland Power Plants
February 22 2008 - 7:00AM
Business Wire
McDermott International, Inc. (NYSE:MDR) announced today that its
subsidiary, Babcock & Wilcox Power Generation Group, Inc.
(�B&W�), has been awarded a contract valued at more than $150
million to design and supply four wet flue gas desulfurization
(�WFGD�) units for three Maryland coal-fired power plants owned and
operated by Mirant Mid Atlantic LLC. The value of this award is
included in McDermott�s backlog at December 31, 2007. The contract
was awarded by The Shaw Group Inc. (NYSE:SGR), which Mirant
contracted with to retrofit emissions control equipment at the
three Mirant plants. B&W will provide the WFGD absorbers � more
commonly called scrubbers � as well as absorber auxiliaries
including agitators, absorber recirculation pumps and valves,
oxidation air blowers and limestone preparation systems for the two
units at Mirant�s 1,400-megawatt (�MW�) Morgantown Generating
Station, a 683 MW unit at its Chalk Point Generating Station and a
546 MW unit at the Dickerson Generating Station. These Mirant
stations supply power to the greater metropolitan Washington, D.C.
area. Material shipment is scheduled to begin in the spring 2008,
with commissioning planned to start toward the end of 2009. �This
award demonstrates B&W�s continued leadership role in the
environmental systems market,� said Brandon Bethards, President and
Chief Operating Officer of B&W Power Generation Group. �We
appreciate our customer�s confidence in our project management and
engineering capabilities and in our ability to meet tight deadlines
while providing an outstanding product.� �We are pleased to have an
industry leader like B&W working beside us on this important
air-quality project,� said Monty Glover, president of the Fossil
division in Shaw�s Power Group. �Coal-fired generation represents a
significant part of our nation�s energy portfolio, and clean-air
projects like this will enable coal to continue to meet the growing
need for electricity.� The Shaw Group, headquartered in Baton
Rouge, La., is a global provider of technology, engineering,
procurement, construction, maintenance, fabrication, manufacturing,
consulting, remediation, and facilities management services for
government and private sector clients in the energy, chemical,
environmental, infrastructure and emergency response markets.
Mirant is a competitive energy company that produces and sells
electricity in the United States. The company owns or leases
approximately 10,300 MW of electric generating capacity and
operates an asset management and energy marketing organization from
its headquarters in Atlanta. McDermott is an engineering and
construction company, with specialty manufacturing and service
capabilities, focused on energy infrastructure. McDermott�s
customers are predominantly utilities and other power generators,
major and national oil companies, and the United States Government.
With its global operations, McDermott operates in over 20 countries
with more than 20,000 employees, and can be found on the internet
at www.mcdermott.com. In accordance with the Safe Harbor provisions
of the Private Securities Litigation Reform Act of 1995, McDermott
International, Inc. cautions that statements in this press release
which are forward-looking and provide other than historical
information involve risks and uncertainties that may impact
McDermott�s actual results of operations. The forward-looking
statements in this press release include, among other things, the
value, work scope and timing associated with the Mirant contract.
Although McDermott�s management believes that the expectations
reflected in those forward-looking statements are reasonable,
McDermott can give no assurance that those expectations will prove
to have been correct. Those statements are made based on various
underlying assumptions and are subject to numerous uncertainties
and risks, including without limitation currency exchange rates,
potential change orders and other modifications to contracts. If
one or more of these risks materialize, or if underlying
assumptions prove incorrect, actual results may vary materially
from those expected. For a more complete discussion of these risk
factors, please see McDermott�s annual report on Form 10-K for the
year ended December 31, 2006 filed with the Securities and Exchange
Commission.
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