Babcock & Wilcox Announces Closing of Previously Announced Sale of its Italian and Swedish Businesses

AKRON, Ohio--(BUSINESS WIRE)--Oct 31, 2024--

Babcock & Wilcox Enterprises, Inc. (“B&W” or the “Company”) (NYSE: BW) announced the closing of the previously announced sale of the Italy-based SPIG S.p.A. (SPIG) group of companies and Sweden-based Babcock & Wilcox Vølund AB — formerly known as Götaverken Miljö AB (GMAB) — to AUCTUS Capital Partners AG for approximately $40 million, subject to customary adjustments and expenses.

About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us onLinkedInand learn more atbabcock.com.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the closing of the previously announced sale of the Italy-based SPIG S.p.A. group of companies and Sweden-based Babcock & Wilcox Vølund AB, formerly known as Götaverken Miljö AB. 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20241031321646/en/

CONTACT: Investor Contact:

Investor Relations

Babcock & Wilcox

704.625.4944

investors@babcock.comMedia Contact:

Ryan Cornell

Public Relations

Babcock & Wilcox

330.860.1345

rscornell@babcock.com

KEYWORD: OHIO NORTH AMERICA UNITED STATES EUROPE SWEDEN ITALY

INDUSTRY KEYWORD: OTHER ENERGY UTILITIES OIL/GAS COAL ALTERNATIVE ENERGY ENERGY NUCLEAR

SOURCE: Babcock & Wilcox Enterprises, Inc.

Copyright Business Wire 2024.