Babcock & Wilcox Enterprises, Inc. BW, 0.00% appear today that it has bankrupt the auction of its MEGTEC and Universal automated casework business to Dürr AG for $130 million, accountable to adjustment.
Net gain from the auction will abundantly be acclimated to abate outstanding balances beneath the Company’s coffer acclaim facilities, and to advance its antithesis area and banking flexibility.
B&W’s cardinal focus will abide to be on optimizing its market-leading portfolio of equipment, technology and casework for adeptness bearing and automated applications, and implementing efficiencies and amount reductions throughout the organization.
Headquartered in Barberton, Ohio, Babcock & Wilcox is a all-around baton in activity and ecology technologies and casework for the adeptness and automated markets, and has been transforming our apple for 151 years. Follow us on Twitter @BabcockWilcox and apprentice added at www.babcock.com .
B&W cautions that this absolution contains advanced statements, including, after limitation, statements apropos to our cardinal objectives; our business beheading model; management’s expectations apropos the industries in which we operate; our advice and forecasts; our projected operating allowance improvements, accumulation and restructuring costs; agreement compliance; and activity execution. These advanced statements are based on management’s accepted expectations and absorb a cardinal of risks and uncertainties, including, amid added things, our adeptness to abide as a activity concern; our adeptness to access and advance acceptable costs to accommodate clamminess to accommodated our business objectives, aggressiveness bonds, belletrist of acclaim and agnate financing; our adeptness to amuse the clamminess and added requirements beneath U.S. revolving acclaim adeptness as afresh amended, including our adeptness to auspiciously access into and borrow beneath a new appellation accommodation and accept concessions from barter on our Renewable activity accident contracts; the awful aggressive attributes of our businesses; accepted bread-and-er and business conditions, including changes in absorption ante and bill barter rates; accepted developments in the industries in which we are involved; cancellations of and adjustments to excess and the consistent appulse from application excess as an indicator of approaching earnings; our adeptness to accomplish affairs on time and on budget, in accordance with the schedules and agreement accustomed by the applicative affairs with customers; abortion by third-party subcontractors, collective adventure ally or suppliers to accomplish their obligations on time and as specified; our adeptness to apprehend advancing accumulation and operational allowances from our restructuring plans, and added cost-savings initiatives; our adeptness to auspiciously accommodate and apprehend the accepted synergies from acquisitions; our adeptness to auspiciously abode abundance and agenda issues in our Renewable segment, including the adeptness to complete our Renewable activity projects aural the accepted time anatomy and the estimated costs; alertness of barter to abandon asleep amercement or accede to account opportunities; our adeptness to auspiciously accomplice with third parties to win and assassinate renewable projects; changes in our able tax amount and tax positions; our adeptness to advance operational abutment for our advice systems adjoin account outages and abstracts corruption, as able-bodied as aegis adjoin cyber-based arrangement aegis breaches and annexation of data; our adeptness to assure our bookish acreage and renew licenses to use bookish acreage of third parties; our use of the percentage-of-completion adjustment of accounting; the risks associated with amalgam businesses we acquire; our adeptness to auspiciously administer analysis and development projects and costs, including our efforts to auspiciously advance and commercialize new technologies and products; the operating risks commonly adventure to our curve of business, including able liability, artefact liability, assurance and added claims adjoin us; changes in, or our abortion or disability to accede with, laws and government regulations; difficulties we may appointment in accepting authoritative or added all-important permits or approvals; changes in, and liabilities apropos to, absolute or approaching ecology authoritative matters; our bound adeptness to access and absolute the operations of our collective ventures; abeyant violations of the Adopted Corrupt Practices Act; our adeptness to auspiciously attempt with accepted and approaching competitors; the accident of key cadre and the connected availability of able personnel; our adeptness to accommodate and advance acceptable relationships with activity unions; changes in alimony and medical costs associated with our retirement account programs; social, political, aggressive and bread-and-er situations in adopted countries area we do business or seek new business; the possibilities of war, added armed conflicts or agitator attacks; the alertness of barter and suppliers to abide to do business with us on reasonable agreement and conditions; and our adeptness to auspiciously able the auction of any assets as we account necessary. If one or added of these risks or added risks materialize, absolute after-effects may alter materially from those expressed. For a added complete altercation of these and added accident factors, see B&W’s filings with the Securities and Barter Commission, including our best contempo anniversary address on Form 10-K and consecutive annual letters on Form 10-Q. B&W cautions not to abode disproportionate assurance on these advanced statements, which allege alone as of the date of this release, and undertakes no obligation to amend or alter any advanced statement, except to the admeasurement appropriate by applicative law.
View antecedent adaptation on businesswire.com: https://www.businesswire.com/news/home/20181008005185/en/
SOURCE: Babcock & Wilcox Enterprises, Inc.”> <Property FormalName=”PrimaryTwitterHandle” Value=”@babcockwilcox
Babcock & Wilcox Investors Megan Wilson, 704.625.4944 Vice President, Corporate Development and Investor Relations [email protected] or Media Ryan Cornell, 330.860.1345 Public Relations [email protected]
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