Wired News – BWX Technologies Joint Venture with Battelle Secures Five Year Contract Extension for Idaho National Laboratory Management

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LONDON, UK / ACCESSWIRE / June 08, 2018 / If you want access to our free research report on BWX Technologies, Inc. (NYSE: BWXT) (“BWXT”), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=BWX as the Company’s latest news hit the wire. On June 06, 2018, the Company announced that its Idaho National Laboratory (“INL”) joint venture (JV) management contract with lead partner Battelle Energy Alliance, LLC (“BEA”) has been awarded a five-year contract extension. The contract is valued at approximately $5 billion. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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INL is managed by BEA for the US Department of Energy (DOE)’s Office of Nuclear Energy.

Contract Details

Key INL initiatives during the term of the contract extension will include providing world-class nuclear science and technology capabilities to the nation, continuing research and development (R&D) on advanced reactor designs, improving upon INL’s world-leading cyber security capabilities and expertise, and developing integrated energy systems to stabilize the power grid.

The DOE officially approved the contract modification that enabled the five-year extension in April 2018. The DOE originally awarded BEA the management contract in November 2004, and with this most recent extension, BEA will operate and manage INL through September 30, 2024.

The Five-Year Contract Extension Indicates the DOE’s Continued Confidence in BWXT’s JV

Commenting on the announcement, Rex D. Geveden, President and Chief Executive Officer (CEO) of BWXT, stated that this five-year contract extension indicates the DOE’s continued confidence in the Company’s JV and affords it the opportunity to continue supporting its critical missions. Geveden added that INL is a premier energy research institution, and the Company’s continued affiliation is both a business success and a point of pride.

BWXT’s Recent Contract from the DOE

On April 30, 2018, the Company’s subsidiary, BWXT Nuclear Energy, Inc., was awarded $5.4 million in cost-sharing funds from the DOE for an advanced nuclear technology development initiative. The other financial details of the deal remained undisclosed. In cooperation with Oak Ridge National Laboratory, BWXT would use its unique capabilities and facilities to develop the ability to implement additive materials manufacturing to the fabrication process for nuclear components and sub-components, which would yield acceptable material structure and strength that can be accepted by the national code organizations and the regulator. The selections were the first under the DOE’s Office of Nuclear Energy’s ‘US Industry Opportunities for Advanced Nuclear Technology Development’ funding opportunity announcement.

About Idaho National Laboratory (INL)

INL is one of the DOE’s national laboratories. The laboratory is the United States’ lead laboratory for nuclear energy research, development, demonstration, and deployment. The lab is charged with providing energy security with safe, competitive, and sustainable energy systems and unique national and homeland security capabilities. INL is managed by Battelle Energy Alliance, LLC. BEA is the LLC member Company, with BWXT, AECOM, and EPRI as integrated subcontractors.

About BWX Technologies, Inc.

Headquartered in Lynchburg, Virginia, BWXT is a leading supplier of nuclear components and fuel to the US government; provides technical and management services to support the US 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.

Stock Performance Snapshot

June 07, 2018 – At Thursday’s closing bell, BWX Technologies’ stock dropped 1.20%, ending the trading session at $66.58.

Volume traded for the day: 504.17 thousand shares.

Stock performance in the last three-month – up 3.43%; previous six-month period – up 8.24%; past twelve-month period – up 37.85%; and year-to-date – up 10.07%

After yesterday’s close, BWX Technologies’ market cap was at $6.63 billion.

Price to Earnings (P/E) ratio was at 31.57.

The stock has a dividend yield of 0.96%.

The stock is part of the Industrial Goods sector, categorized under the Aerospace/Defense Products & Services industry. This sector was up 0.2% at the end of the session.

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