CAMBRIDGE, Ontario--(BUSINESS WIRE)--
BWX Technologies, Inc. (NYSE:BWXT) announced today that its subsidiary BWXT Canada Ltd. (BWXT Canada) has been awarded a four-year amendment to its existing Master Services Agreement (MSA), which went into effect on January 1, 2015, for feeder inspection services at Bruce Power, located near Kincardine, Ontario, Canada.
Valued at approximately $30 million (Canadian), the MSA work scope addition includes the training of personnel followed by inspections during scheduled maintenance outages of feeder pipes that carry coolant to and from the reactor core. The long term nature of this agreement fosters the development of innovative methods to optimize outages in support of Bruce Power’s commitment to providing low-cost power for Ontarians.
“We are pleased to provide long-term feeder inspection services for Bruce Power and are committed to ensuring this work is carried out safely, on time and within budget,” said John MacQuarrie, President of BWXT Canada. “The long-term nature of this work will allow us to invest in training and continuous improvement, and allow us to sustain highly skilled, highly paid staff that will carry out this important work.”
“Bruce Power is pleased to expand our MSA with BWXT Canada,” said Kevin Kelly, Chief Financial Officer and Executive Vice President, Finance and Commercial Services. “The execution of these critical services will enable Bruce Power to continue providing low-cost power to Ontarians for many years to come.”
BWXT Canada has performed feeder inspection services for Bruce Power over the last five years. Feeder inspection services under the MSA will commence in 2017.
About BWXT Canada Ltd.
BWXT Canada Ltd. (BWXT Canada) has over 60 years of expertise and experience in the design, manufacturing, commissioning and service of nuclear power generation equipment. This includes CANDU® and Pressurized Water Reactor steam generators, nuclear fuel and fuel components, critical plant components, parts and related plant services. Headquartered in Cambridge, Ontario, BWXT Canada has approximately 850 employees at locations in Cambridge, Peterborough, Toronto and Arnprior, Ontario. BWXT Canada is a subsidiary of BWX Technologies, Inc. (NYSE:BWXT). BWXT is a leading supplier of nuclear components and fuel to the U.S. government; provides technical and management services to support the U.S. government in the operation of complex facilities and environmental remediation activities; and supplies precision manufactured components, services and fuel for the commercial nuclear power industry. Learn more at www.BWXT.com.
Forward Looking Statements
BWXT cautions that this release contains forward-looking statements, including statements relating to the timing and value of the MSA amendment, to the extent either can be viewed as an indicator of future revenues. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties in contract execution, or modification or termination of the contract. If one or more of these or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, please see BWXT’s most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. BWXT cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
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