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B&W Announces Agreement to Sell MEGTEC and Universal

BABCOCK & WILCOX ENTERPRISES INC (BW)  More Company Research Source: Business Wire
Last babcock & wilcox enterprises inc earnings: 3/1 04:42 pm Check Earnings Report
US:NYSE Investor Relations: babcockwinery.com
PDF CHARLOTTE, N.C.--(BUSINESS WIRE)-- Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) announced that it had signed a definitive agreement to sell its MEGTEC and Universal businesses to Dürr AG (“Dürr”) for $130 million, subject to adjustment. Proceeds from the transaction will largely be used to reduce outstanding balances under the Company’s bank credit facilities, improving its balance sheet and financial flexibility. Going forward, the Company’s strategic focus will continue to be on optimizing its market-leading portfolio of equipment, technology and services for the power generation industry and driving efficiencies and cost reductions throughout the organization. As part of the Dürr organization, these businesses will be well positioned to continue to serve their customers around the world with high-quality products. The sale is expected to close in third quarter 2018 and is subject [Read more]

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