CHARLOTTE, N.C., May 17 (UPI) -- Babcock and Wilcox Nuclear Operations Group Inc. received a $366 million contract to procure nuclear reactor component materials for use in U.S. Navy vessels.
The Babcock and Wilcox Co., parent of B&W NOG, said $75 million in funding has already been released for the procurement and the remainder will be released over six years.
The award supports the U.S. Naval Reactor Program. The materials to be procured are for reactor components B&W NOG will assemble at its facility in Lynchburg, Va.
"B&W is pleased to continue serving the U.S. Naval Reactors Program in support of producing quality products while reducing costs through this new contract," said B&W NOG President Peyton S. Baker. "Our company's role in supporting the U.S. Navy's nuclear fleet's mission is a source of immense pride for our workforce."
The company didn't specify types of materials to be obtained or the reactor components that would be produced.