The Babcock & Wilcox Company has been awarded more than $510 million in contracts to supply the U.S. military with nuclear components, the firm announced this morning.
The work, which will include making nuclear power systems for submarines and aircraft carriers, will be performed in part at B&W’s Nuclear Operations Group, which is headquartered on Mt. Athos Road.
Facilities in Barberton, Ohio; Euclid, Ohio; and Mt. Vernon, Indiana also will participate. The work began in January and will last eight years, B&W said.
B&W said more than $445 million of the $510 million figure was issued as options under a 2010 contract worth $2 billion, while more than $65 million was issued under a new fiscal-year 2013 agreement. However, the total amount was appropriated in the fourth quarter of 2012.
Source – News Advance