B&W SPIG Awarded $18 Million Cooling Technologies Upgrade Contract
February 24 2020 - 06:45AM
Business Wire
SPIG S.p.A. (SPIG), a subsidiary of Babcock & Wilcox
Enterprises, Inc. (B&W) (NYSE:BW), has been awarded a contract
to provide cooling technologies and associated services for an
industrial facility. The total contract value is more than $18
million over approximately 10 years.
“SPIG’s advanced cooling technologies are well-suited for the
rigorous conditions of the oil, gas and petrochemical industries,”
said SPIG Managing Director Alberto Galantini. “Our engineering
expertise and advanced technical services make us industry leaders
in this sector. Under this agreement, we will provide the
technology and services to improve the plant’s cooling
capacity.”
SPIG fiberglass-reinforced plastic (FRP) cooling towers provide
high strength, weather resistance, long-term performance, light
weight, and dimensional stability, with noise and vibration
absorption. SPIG FRP cooling towers also provide flexible solutions
and reduced assembly times.
About B&W
Headquartered in Akron, Ohio, Babcock & Wilcox is a global
leader in energy and environmental technologies and services for
the power and industrial markets. Follow us on Twitter
@BabcockWilcox and learn more at www.babcock.com.
About SPIG
SPIG, S.p.A is a subsidiary of Babcock & Wilcox Enterprises,
Inc. and a global turnkey cooling systems supplier. Since 1936,
SPIG has provided customers with an extensive range of high quality
cooling towers, air-cooled condensers and related services.
Forward-Looking Statements
B&W cautions that this release contains forward-looking
statements, including, without limitation, statements relating to
the execution and completion of a multi-year contract for cooling
technologies and associated services. These forward-looking
statements are based on management’s current expectations and
involve a number of risks and uncertainties. For a more complete
discussion of these risk factors, see our filings with the
Securities and Exchange Commission, including our most recent
annual report on Form 10-K. If one or more of these risks or other
risks materialize, actual results may vary materially from those
expressed. We caution readers not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
release, and we undertake no obligation to update or revise any
forward-looking statement, except to the extent required by
applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200224005241/en/
Investors: Megan Wilson Vice President, Corporate
Development & Investor Relations Babcock & Wilcox
704.625.4944 | investors@babcock.com
Media: Ryan Cornell Public Relations Babcock & Wilcox
330.860.1345 | rscornell@babcock.com
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