BWXT-Led Team Awarded $4.7 Billion Contract For DOEs Savannah River Site Liquid Waste Services

Business Wire 13-Oct-2017 2:00 PM

LYNCHBURG, Va.--(BUSINESS WIRE)-- A team led by a subsidiary of BWX Technologies, Inc. (NYSE:BWXT) has been awarded an approximately $4.7 billion contract to provide liquid waste services at the U.S. Department of Energys (DOE) Savannah River Site.

Savannah River EcoManagement, LLC (SRE) comprises BWXT Technical Services Group, Inc., Bechtel National, Inc. and Honeywell International, Inc.

BWXT and its partners are extremely pleased to have been chosen by the DOE to execute this mission-critical program, said Rex D. Geveden, BWXTs President and Chief Executive Officer.

The liquid waste services include, but are not limited to: operations of existing radioactive liquid waste facilities for storage, treatment, stabilization, and disposal of waste; waste removal from tanks and tank closures; construction of additional saltstone disposal units; operation of the Salt Waste Processing Facility after facility commissioning, startup, and one year of operation; and liquid waste program and regulatory support.

The total estimated value of the contract is approximately $4.7 billion. The period of performance includes a base period of seven years (including a transition period of 90 days) and an option period of three years.

More information is available from the U.S. Department of Energys Office of Environmental Management at https://energy.gov/em/articles/doe-awards-contract-savannah-river-site-liquid-waste-services.

Forward Looking Statements BWXT cautions that this release contains forward-looking statements, including statements relating to the performance, timing and value, to the extent contract value can be viewed as an indicator of future income, of the Savannah River Site contract and options. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays in the commencement of the contract and modification or termination of the contract. If one or more of these or other risks materialize, actual results may vary materially from those expressed in this release. For a more complete discussion of these and other risk factors, see BWXTs annual report on Form 10-K for the year ended December 31, 2016 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.

About BWXT Headquartered in Lynchburg, Va., BWX Technologies, Inc. (NYSE: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. With approximately 6,000 employees, BWXT has nine major operating sites in the U.S. and Canada. In addition, BWXT joint ventures provide management and operations at more than a dozen U.S. Department of Energy and two NASA facilities. Follow us on Twitter @BWXTech and learn more at www.bwxt.com .

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BWX Technologies, Inc. Media Contact:Jud Simmons, 434-522-6462Director, Media & Public Relationshjsimmons@bwxt.comorInvestor Contact:Alan Nethery, 980-365-4300Vice President and Chief Investor Relations Officerinvestors@bwxt.com

Source: BWX Technologies, Inc.