The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today the
completion of a new boiler auxiliary equipment manufacturing facility
for Diamond Power International, Inc. (DPII), a subsidiary of Babcock &
Wilcox Power Generation Group, Inc. (B&W PGG), in Jingshan, Hubei
Province, China.
DPII established Diamond Power Machine (Hubei) Co., Inc. (DPMH) in 1987
as one of the first joint venture companies in China. DPMH, a wholly
owned foreign enterprise, will own and operate the facility. DPMH is
recognized as an industry leading boiler auxiliary equipment
manufacturer to China’s utility, pulp and paper and industrial markets,
as well as key export markets.
“I’m excited about DPII’s growth in China,” said Mike Parker, General
Manager Asia-Pacific Operations, DPII. “This new facility will allow us
to better serve our customers here, as well as our growing international
export markets in Asia and around the world. We would like to thank the
Chinese government for the financial support and consideration that made
this project possible.”
B&W PGG President and Chief Operating Officer J. Randall Data said,
“We’re happy to continue our long-term presence in China and to be able
to enhance our ability to serve all of our markets with reliable,
high-quality products. This new facility is another example of how we’re
actively reducing costs, improving competitiveness and working to exceed
our customers’ expectations in China and worldwide.”
DPMH’s new Hubei manufacturing operation consolidates two properties
with numerous buildings into a single facility in a nearby industrial
park. The new, state-of-the-art facility will incorporate new management
techniques to improve operating efficiencies, while meeting
international quality standards.
About B&W
Headquartered in Charlotte, N.C.,
The Babcock & Wilcox Company is a leader in clean energy technology and
services, primarily for the nuclear, fossil and renewable power markets,
as well as a premier advanced technology and mission critical defense
contractor. B&W has locations worldwide and employs approximately 12,000
people, in addition to approximately 10,400 joint venture employees.
Learn more at www.babcock.com.
About DPII
Diamond Power International, Inc. is a
globally acknowledged market leader in all aspects of boiler cleaning
and ash handling. For more than 100 years, DPII has consistently
provided innovative technologies and solutions for power generation,
pulp & paper, and industrial marketplaces. DPII is headquartered in
Lancaster, Ohio, with more than 80 field sales, service support,
distribution and manufacturing locations throughout the world. The
company is located on the Internet at www.diamondpower.com.
Cautionary Statement Regarding Forward Looking Statements
B&W
cautions that this release contains forward-looking statements,
including statements relating to management’s plans and objectives
regarding our customers and international export markets, to the extent
such statements may be viewed as an indicator of future economic
performance. These forward-looking statements involve a number of
risks and uncertainties, including, among other things, delays or other
difficulties executing contracts, increased competition and adverse
changes in the markets that we serve. 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 B&W's filings with the Securities and Exchange
Commission, including its annual report on Form 10-K and subsequent
quarterly reports on Form 10-Q. B&W cautions not to place undue reliance
on these forward-looking statements, which speak only as of the date
this release, and undertakes no obligation to update or revise any
forward-looking statement, except to the extent required by applicable
law.
Copyright Business Wire 2013