Skip to main content

McDermott Announces Re-Organization, Creates Babcock and Wilcox Companies

By Eric McErlain
Off this morning's wire:
McDermott International, Inc. (NYSE:MDR) ("McDermott" or the "Company") announced today a strategic realignment of its businesses operating within the power industry. Effective January 1, 2007, the Company will consolidate its BWX Technologies, Inc. subsidiary ("BWXT") and The Babcock & Wilcox Company subsidiary ("B&W"), into a single entity operating as The Babcock & Wilcox Companies ("BWC").

Through BWC, all of McDermott's nuclear and fossil power products and service offerings will be positioned to best fulfill the changing requirements of the Company's power customers, both commercial and governmental. "Leveraging our power offerings, talented employee base and industry expertise from both organizations will benefit our customers, work force, and shareholders," said Bruce W. Wilkinson, Chairman and Chief Executive Officer of McDermott.

The Babcock & Wilcox Companies will be under the direct leadership of John A. Fees, who has been named Chief Executive Officer of BWC. Fees, age 49, will continue to report to Bruce Wilkinson in this new role. John Fees is a 27-year McDermott veteran who most recently served as President and Chief Operating Officer of BWXT, a position held since January 2003. During a career of increasing responsibility, John Fees also previously served as President of both BWXT Services, Inc. and the Diamond Power Division, a wholly-owned subsidiary of B&W. David L. Keller will continue to lead McDermott's power generation activities and beginning on January 1, 2007 will report to Fees. BWC will appoint leadership positions within the new organization as it approaches the effective date.
Technorati tags: , , , , , , ,

Comments

Anonymous said…
After reading :
Barberton firm reunited with spinoff
Scientists to play key role in global fusion reactor

I thought you would be interested in looking at these energy technologies:

Aneutronic Fusion: Here I am not talking about the big science ITER project taking thirty years, but the several small alternative plasma fusion efforts.

There are three companies pursuing hydrogen-boron plasma toroid fusion, Paul Koloc, Prometheus II, Eric Lerner, Focus Fusion and Clint Seward of Electron Power Systems

Vincent Page (a technology officer at GE!!) gave a presentation at the 05 6th symposium on current trends in international fusion research , which high lights the need to fully fund three different approaches to P-B11 fusion

He quotes costs and time to development of P-B11 Fusion as tens of million $, and years verses the many decades and ten Billion plus $ projected for ITER and other "Big" science efforts


Terra Preta Soil CO2 Sequestration:

Here is a great article that high lights this pyrolysis
process , ( http://www.eprida.com/hydro/ ) which could use existing infrastructure to provide Charcoal sustainable Agriculture , Syn-Fuels, and a variation of this process would also work as well for H2 and Charcoal-Fertilizer production, while sequestering CO2 from Coal fired plants to build soils at large scales , be sure to read the See an initial analysis. of this technology to clean up Coal fired power plants.


Soil erosion, energy scarcity, excess greenhouse gas all answered through regenerative carbon management

I feel Terra Preta soil technology is the greatest Ironies since Tobacco.
That is, an invention of pre-Columbian American culture, destroyed by western disease, may well be the savior of industrial western society. As inversely Tobacco, over time has gotten back at same society by killing more of us than the entire pre-Columbian population.

Regards,

Erich J. Knight
Shenandoah Gardens
McGaheysville, VA
E-mail: shengar@aol.com
(540) 289-9750
September 11, 2006 at 11:20 AM
Anonymous said…
After reading :
Barberton firm reunited with spinoff
Scientists to play key role in global fusion reactor

I thought you would be interested in looking at these energy technologies:

Aneutronic Fusion: Here I am not talking about the big science ITER project taking thirty years, but the several small alternative plasma fusion efforts.

There are three companies pursuing hydrogen-boron plasma toroid fusion, Paul Koloc, Prometheus II, Eric Lerner, Focus Fusion and Clint Seward of Electron Power Systems

Vincent Page (a technology officer at GE!!) gave a presentation at the 05 6th symposium on current trends in international fusion research , which high lights the need to fully fund three different approaches to P-B11 fusion

He quotes costs and time to development of P-B11 Fusion as tens of million $, and years verses the many decades and ten Billion plus $ projected for ITER and other "Big" science efforts


Terra Preta Soil CO2 Sequestration:

Here is a great article that high lights this pyrolysis
process , ( http://www.eprida.com/hydro/ ) which could use existing infrastructure to provide Charcoal sustainable Agriculture , Syn-Fuels, and a variation of this process would also work as well for H2 and Charcoal-Fertilizer production, while sequestering CO2 from Coal fired plants to build soils at large scales , be sure to read the See an initial analysis. of this technology to clean up Coal fired power plants.


Soil erosion, energy scarcity, excess greenhouse gas all answered through regenerative carbon management

I feel Terra Preta soil technology is the greatest Ironies since Tobacco.
That is, an invention of pre-Columbian American culture, destroyed by western disease, may well be the savior of industrial western society. As inversely Tobacco, over time has gotten back at same society by killing more of us than the entire pre-Columbian population.

Regards,

Erich J. Knight
Shenandoah Gardens
McGaheysville, VA
E-mail: shengar@aol.com
(540) 289-9750
September 11, 2006 at 11:21 AM
Post a Comment

Popular posts from this blog

Fluor Invests in NuScale

By
You know, it’s kind of sad that no one is willing to invest in nuclear energy anymore. Wait, what? NuScale Power celebrated the news of its company-saving $30 million investment from Fluor Corp. Thursday morning with a press conference in Washington, D.C. Fluor is a design, engineering and construction company involved with some 20 plants in the 70s and 80s, but it has not held interest in a nuclear energy company until now. Fluor, which has deep roots in the nuclear industry, is betting big on small-scale nuclear energy with its NuScale investment. "It's become a serious contender in the last decade or so," John Hopkins, [Fluor’s group president in charge of new ventures], said. And that brings us to NuScale, which had run into some dark days – maybe not as dark as, say, Solyndra, but dire enough : Earlier this year, the Securities Exchange Commission filed an action against NuScale's lead investor, The Michael Kenwood Group. The firm "misap...
1 comment
Read more

Wednesday Update

By
From NEI’s Japan micro-site: NRC, Industry Concur on Many Post-Fukushima Actions Industry/Regulatory/Political Issues • There is a “great deal of alignment” between the U.S. Nuclear Regulatory Commission and the industry on initial steps to take at America’s nuclear energy facilities in response to the nuclear accident in Japan, Charles Pardee, the chief operating officer of Exelon Generation Co., said at an agency briefing today. The briefing gave stakeholders an opportunity to discuss staff recommendations for near-term actions the agency may take at U.S. facilities. PowerPoint slides from the meeting are on the NRC website. • The International Atomic Energy Agency board has approved a plan that calls for inspectors to evaluate reactor safety at nuclear energy facilities every three years. Governments may opt out of having their country’s facilities inspected. Also approved were plans to maintain a rapid response team of experts ready to assist facility operators recoverin...
Post a Comment
Read more

Nuclear Utility Moves Up in Credit Ratings, Bank is "Comfortable with Nuclear Strategy"

By
Some positive signs that nuclear utilities can continue to receive positive ratings even while they finance new nuclear plants for the first time in decades: Wells Fargo upgrades SCANA to Outperform from Market Perform Wells analyst says, "YTD, SCG shares have underperformed the Regulated Electrics (total return +2% vs. +9%). Shares trade at 11.3X our 10E EPS, a modest discount to the peer group median of 11.8X. We view the valuation as attractive given a comparatively constructive regulatory environment and potential for above-average long-term EPS growth prospects ... Comfortable with Nuclear Strategy. SCG plans to participate in the development of two regulated nuclear units at a cost of $6.3B, raising legitimate concerns regarding financing and construction. We have carefully considered the risks and are comfortable with SCG’s strategy based on a highly constructive political & regulatory environment, manageable financing needs stretched out over 10 years, strong partners...
Post a Comment
Read more