• Opens Region Headquarters in Perth, Australia
• Nick Carter Named Managing Director
• High-Growth Region Has $8 Billion Addressable Market

AKRON, Ohio--(BUSINESS WIRE)--$BW #asiapacific--Babcock & Wilcox (B&W) (NYSE: BW) announced today that it is establishing its Asia-Pacific Region headquarters in Perth, Australia, to serve as the center of operations for its expansion in the Asia-Pacific market. B&W has named Nick Carter as Managing Director of the region.

The company also is establishing or expanding operations in Indonesia, the Philippines, Vietnam, Thailand, China, India and other countries. B&W�s three business segments � B&W Environmental, B&W Renewable and B&W Thermal � will draw on the resources of these operations to meet the needs of customers throughout the Asia-Pacific region.

�There is significant demand for clean energy, waste-to-energy, emissions and environmental controls, and advanced thermal energy solutions in the Asia-Pacific region. Establishing a strong presence in this region, along with a key management and operations team, is an important next step for Babcock & Wilcox,� said B&W Chief Executive Officer Kenneth Young. �B&W Environmental, B&W Renewable and B&W Thermal offer comprehensive, industry-leading technologies and equipment, parts, plant maintenance and other services that are well-known and respected throughout the Asia-Pacific region, which we estimate has an addressable market of nearly $8 billion over the next three years.�

�Under Nick Carter�s experienced, skilled leadership, we are already seeing signs of success as the energy demands and environmental mandates within this region are expanding exponentially,� Young said.

Carter has considerable experience within the power generation sector, including more than 20 years in South America and the Asia-Pacific region delivering major power generation projects. Carter began his career with Bechtel Corporation and joined B&W in 1980, and subsequently held a number of international positions of increasing responsibility including managing large power generation projects, and serving as Director, International Sales and Business Development for the Asia-Pacific region. Between 2008 and 2014, he served as President of NixEnergy Inc. and as Vice President of Business Development for Kiewit Energy Group Inc., before rejoining B&W in 2014. Carter is a graduate of Auckland Technical Institute (AIT), New Zealand, and Petone Institute of Technology.

B&W�s focus for the Asia-Pacific region will include upgrades, parts, equipment and other services to customers in the renewable, environmental and thermal markets, including to under-serviced local markets and the pulp & paper and petrochemical sectors.

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.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the company�s plan to expand its presence in the Asia-Pacific region in support of the growth of its three business segments � B&W Renewable, B&W Environmental and B&W Thermal. 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.

Contacts

Investor Contact:
Megan Wilson

Vice President, Corporate Development & Investor Relations

Babcock & Wilcox

704.625.4944 | [email protected]

Media Contact:
Ryan Cornell

Public Relations

Babcock & Wilcox

330.860.1345 | [email protected]