BWXT Subsidiary Awarded $141.7 M from Naval Nuclear Propulsion Program

April 27, 2017

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BWX Technologies, Inc. (NYSE:BWXT) announced today that the U.S. Naval Nuclear Propulsion Program exercised contract options in Q1 2017 with BWXT’s subsidiary Nuclear Fuel Services, Inc. (NFS) totaling approximately $141.7 million for fuel manufacture, development activities, and decommissioning work in support of the nation’s nuclear submarines and aircraft carriers.

Work under these contracts has already commenced, and the vast majority of it will be completed during the remainder of 2017.

“NFS is dedicated to providing fuel and services of the highest quality to the U.S. Navy,” said Joel W. Duling, NFS President. “Our entire workforce understands the significance of the work performed at NFS, and we take a lot of pride in the fact that our mission plays a key role in our country’s defense efforts.”

NFS has been the sole manufacturer of nuclear fuel for the U.S. Navy's fleet of nuclear-powered aircraft carriers and submarines since 1964. The company employs a full-time workforce of approximately 1,000 people, including long-term contractors and security personnel.

Source : BWX Technologies, Inc.