Babcock & Wilcox Announces Agreement to Sell its Denmark-Based Renewable Parts and Services Subsidiary
- B&W received
- The sale aligns with B&W’s comprehensive business strategy to reduce long-term debt and optimize capital structure
- Company reiterates its Full Year 2024 Adjusted EBITDA target range of
BWRS, which employs more than 160 people and provides aftermarket parts and services for waste-to-energy plants in northern
“This transaction aligns with our previously announced intention to strategically sell certain non-core businesses and assets, and proceeds will be used to reduce our debt, increase our liquidity and support working capital,”
“Energy demand in the utility and industrial sector is rapidly increasing, which is reflected in our higher bookings and full-year outlook within our segments and businesses as we move forward. Accordingly, we are reiterating our previously stated Full Year 2024 Adjusted EBITDA target range of
“B&W is a leader in technologies that provide clean, renewable energy from waste, and we will continue to leverage our core technologies, including our advanced DynaGrate® combustion grate, state-of-the-art boilers, fuel and ash handling systems and emissions control technologies in the European and global markets to support new build and large upgrade projects,” Young added. “We’re excited about the robust pipeline of opportunities we’re currently pursuing and the opportunity to continue to work closely with customers in these markets well into the future.”
About Babcock & Wilcox
Headquartered in
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the sale of its Babcock & Wilcox Renewable Service A/S subsidiary to
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Investor Contact:
Investor Relations
Babcock & Wilcox
704.625.4944
investors@babcock.com
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Babcock & Wilcox
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rscornell@babcock.com
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