B&W Acquires the Intech Group of Companies
July 15 2008 - 12:00PM
Business Wire
McDermott International, Inc. (�McDermott�) (NYSE:MDR) announced
today that its subsidiary, The Babcock & Wilcox Company
(�B&W�), has purchased the Intech group of companies to expand
B&W�s capabilities in serving the U.S. commercial nuclear
service market, strengthen its position in the Canadian nuclear
service market, and enhance its existing inspection services to
fossil plant customers. The Intech companies comprise Intech, Inc.,
Ivey-Cooper Services, L.L.C. and Intech International Inc. Intech,
Inc. provides nuclear inspection and maintenance services,
primarily for the U.S. market. Intech International Inc. provides
non-destructive testing, field engineering and repair, and
specialized tooling services primarily for the Canadian nuclear
power generation industry. Ivey-Cooper Services provides
non-destructive inspection services to fossil-fueled power plants
as well as chemical, pulp and paper, and heavy fabrication
facilities. �The acquisition of the Intech group of companies
aligns with our growth strategy by enhancing our level of service
provided to nuclear and fossil customers,� said John A. Fees, Chief
Executive Officer of B&W. �The Intech companies are a natural
fit into our organization and we welcome them into our operations.�
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.
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