BWXT Joint Venture Awarded Three-Year, $928 Million Contract Extension
BWX Technologies, Inc. (NYSE:BWXT) announced today that its Nuclear Waste Partnership LLC (NWP) joint venture between its
subsidiary BWXT Technical Services Group, Inc. and lead partner AECOM has been awarded a three-year extension to its management and
operations contract at the U.S. Department of Energy’s Waste Isolation Pilot Plant (WIPP) near Carlsbad, New Mexico.
With an expected value of approximately $928 million, the modification extends NWP’s contract through September 30, 2020, with
the potential for an additional two-year option. The extended contract enhances the focus on safety, provides cost incentives
designed to increase value to taxpayers, rewards the workforce for safe and efficient operations, and provides greater support to
the Carlsbad-area community.
WIPP is the nation’s only facility for deep geological disposal of transuranic radioactive waste as by-products of nuclear
weapons production and disassembly.
“BWXT is very pleased to continue our work with AECOM at this important DOE facility,” said Rex D. Geveden, BWXT’s President and
Chief Executive Officer. “BWXT’s nuclear operations capability is a natural fit for a site like WIPP, and we look forward to
applying that experience and expertise in making additional operational and safety enhancements in the next three years.”
BWXT is a partner in joint ventures serving the DOE and National Nuclear Security Administration at more than a dozen locations
around the country, including Savannah River Site, Los Alamos National Laboratory, Paducah Gaseous Diffusion Plant and Idaho
National Laboratory.
Forward Looking Statements
BWXT cautions that this release contains forward-looking statements, including statements relating to the performance, timing,
impact and value, to the extent contract value can be viewed as an indicator of future revenues, of the WIPP extension and option.
These forward-looking statements involve a number of risks and uncertainties, including, among other things, modification or
termination of the contract and delays. 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 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 .
BWX Technologies, Inc.
Media Contact:
Jud Simmons, 434-522-6462
Director, Media & Public Relations
hjsimmons@bwxt.com
or
Investor Contact:
Alan Nethery, 980-365-4300
Vice President and Chief Investor Relations Officer
investors@bwxt.com
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