Latest news with #ANDRITZ
Yahoo
2 days ago
- Business
- Yahoo
Babcock & Wilcox Enterprises, Inc. (BW) Finalizes Deal to Sell Diamond Power Division
Babcock & Wilcox Enterprises, Inc. (NYSE:BW) has reached an agreement to divest its Diamond Power International business to the Austrian firm ANDRITZ for a total consideration of $177 million, pending customary adjustments. The deal is expected to close within 30 days and includes the transfer of around 400 employees. An industrial engineer standing in front of a factory installation of solar energy panels. The sale substantiates Babcock & Wilcox Enterprises, Inc. (NYSE:BW)'s renewed focus on its core thermal and environmental segments. The company is streamlining its operations to capitalize on the energy demand emerging from data centers and utility infrastructure. Earlier, it disclosed the strongest backlog in decades for its services, upgrades, and construction projects across North America. Kenneth Young, Chairman and Chief Executive Officer, made the following statement: 'The sale of Diamond Power, which achieves annual revenues in the range of $110 million, will be transformational and will reinforce the value of our underlying assets as we re-capitalize our businesses going forward.' The proceeds from the divestiture are reserved to support Babcock & Wilcox Enterprises, Inc. (NYSE:BW)'s tender offers of up to $70 million for its 8.125% and 6.50% Senior Notes due 2026. The tender is set to expire on July 11 and reflects the company's intention to reduce debt obligations in addition to enhancing the balance sheet ahead of a forecasted growth phase. Investor sentiment appears cautiously optimistic, with an 82.10% uptick in stock performance over the past month, despite a prevailing Hold rating from analysts. Babcock & Wilcox Enterprises, Inc. (NYSE:BW) is an Ohio-based company incorporated in the energy technology and service sector. Best known for steam boilers, the company remains active in the global market and offers both conventional and renewable energy solutions. While we acknowledge the potential of BW as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 10 Unstoppable Dividend Stocks to Buy Now and 11 Oversold Global Stocks to Buy According to Hedge Funds Disclosure: None.
Yahoo
3 days ago
- Business
- Yahoo
Babcock & Wilcox Enterprises, Inc. (BW) Finalizes Deal to Sell Diamond Power Division
Babcock & Wilcox Enterprises, Inc. (NYSE:BW) has reached an agreement to divest its Diamond Power International business to the Austrian firm ANDRITZ for a total consideration of $177 million, pending customary adjustments. The deal is expected to close within 30 days and includes the transfer of around 400 employees. An industrial engineer standing in front of a factory installation of solar energy panels. The sale substantiates Babcock & Wilcox Enterprises, Inc. (NYSE:BW)'s renewed focus on its core thermal and environmental segments. The company is streamlining its operations to capitalize on the energy demand emerging from data centers and utility infrastructure. Earlier, it disclosed the strongest backlog in decades for its services, upgrades, and construction projects across North America. Kenneth Young, Chairman and Chief Executive Officer, made the following statement: 'The sale of Diamond Power, which achieves annual revenues in the range of $110 million, will be transformational and will reinforce the value of our underlying assets as we re-capitalize our businesses going forward.' The proceeds from the divestiture are reserved to support Babcock & Wilcox Enterprises, Inc. (NYSE:BW)'s tender offers of up to $70 million for its 8.125% and 6.50% Senior Notes due 2026. The tender is set to expire on July 11 and reflects the company's intention to reduce debt obligations in addition to enhancing the balance sheet ahead of a forecasted growth phase. Investor sentiment appears cautiously optimistic, with an 82.10% uptick in stock performance over the past month, despite a prevailing Hold rating from analysts. Babcock & Wilcox Enterprises, Inc. (NYSE:BW) is an Ohio-based company incorporated in the energy technology and service sector. Best known for steam boilers, the company remains active in the global market and offers both conventional and renewable energy solutions. While we acknowledge the potential of BW as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 10 Unstoppable Dividend Stocks to Buy Now and 11 Oversold Global Stocks to Buy According to Hedge Funds Disclosure: None. Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Babcock & Wilcox Announces Agreement to Sell Its Diamond Power International Business
- $177 million in total consideration subject to customary fees and adjustments- Industrial, utility and data center power demand is increasing globally- B&W now well-capitalized and poised to leverage growth in 2025 and beyond AKRON, Ohio, June 05, 2025--(BUSINESS WIRE)--Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE: BW) announced today that it has reached an agreement to sell its Diamond Power International business ("Diamond Power") to Austria-based ANDRITZ for $177 million, subject to customary fees and adjustments. The sale is expected to close within approximately 30 days and will include the transfer of approximately 400 employees to ANDRITZ. "B&W has had a strong start to 2025 and has achieved the highest bookings and backlog in decades from our parts and services business in addition to our already strong backlog from Thermal projects, upgrades and construction, primarily in North America," said Kenneth Young, B&W Chairman and Chief Executive Officer. "Our core parts, services and construction businesses demonstrated solid performance in Q1 and continue to excel in Q2 as the rising energy needs of data centers and industrial and utility markets fuel demand for our offerings. The sale of Diamond Power, which achieves annual revenues in the range of $110 million, will be transformational and will reinforce the value of our underlying assets as we re-capitalize our businesses going forward." "With a strong balance sheet, we are well-positioned to win new gas conversions, plant upgrades and behind-the-meter data center projects in North America and beyond," Young added. "We're also seeing additional demand for our BrightLoop™ technologies – both for steam generation and hydrogen production that can produce energy with lower costs and expenditures than other hydrogen technologies. Our unique technology – which is capable of supporting utilities and industries with low-cost hydrogen and steam generation while capturing CO2 – demonstrates the spirit of innovation and strong engineering capabilities that have driven B&W throughout its history and will be the foundation of our growth strategy for years to come." "Diamond Power provides boiler cleaning and monitoring solutions for utilities and industries around the world, and we're grateful for the decades of hard work and dedication shown by its employees," said Christopher Riker, B&W Executive Vice President and Chief Operating Officer. "We look forward to working closely with ANDRITZ to ensure a smooth transition and to our continued collaboration on boiler cleaning solutions in the future." 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 on LinkedIn and learn more at Forward-Looking Statements B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to an agreement to sell its Diamond Power businesses to ANDRITZ, demand for our products, future projects, and growth strategy. 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 Contacts Investor Contact:Investor RelationsBabcock & Wilcox704.625.4944investors@ Media Contact:Ryan CornellPublic RelationsBabcock & Wilcox330.860.1345rscornell@ Sign in to access your portfolio
Business Wire
3 days ago
- Business
- Business Wire
Babcock & Wilcox Announces Agreement to Sell Its Diamond Power International Business
AKRON, Ohio--(BUSINESS WIRE)--Babcock & Wilcox Enterprises, Inc. ('B&W' or the 'Company') (NYSE: BW) announced today that it has reached an agreement to sell its Diamond Power International business ('Diamond Power') to Austria-based ANDRITZ for $177 million, subject to customary fees and adjustments. The sale is expected to close within approximately 30 days and will include the transfer of approximately 400 employees to ANDRITZ. 'B&W has had a strong start to 2025 and has achieved the highest bookings and backlog in decades from our parts and services business in addition to our already strong backlog from Thermal projects, upgrades and construction, primarily in North America,' said Kenneth Young, B&W Chairman and Chief Executive Officer. 'Our core parts, services and construction businesses demonstrated solid performance in Q1 and continue to excel in Q2 as the rising energy needs of data centers and industrial and utility markets fuel demand for our offerings. The sale of Diamond Power, which achieves annual revenues in the range of $110 million, will be transformational and will reinforce the value of our underlying assets as we re-capitalize our businesses going forward.' 'With a strong balance sheet, we are well-positioned to win new gas conversions, plant upgrades and behind-the-meter data center projects in North America and beyond,' Young added. 'We're also seeing additional demand for our BrightLoop™ technologies – both for steam generation and hydrogen production that can produce energy with lower costs and expenditures than other hydrogen technologies. Our unique technology – which is capable of supporting utilities and industries with low-cost hydrogen and steam generation while capturing CO 2 – demonstrates the spirit of innovation and strong engineering capabilities that have driven B&W throughout its history and will be the foundation of our growth strategy for years to come.' 'Diamond Power provides boiler cleaning and monitoring solutions for utilities and industries around the world, and we're grateful for the decades of hard work and dedication shown by its employees,' said Christopher Riker, B&W Executive Vice President and Chief Operating Officer. 'We look forward to working closely with ANDRITZ to ensure a smooth transition and to our continued collaboration on boiler cleaning solutions in the future.' 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 on LinkedIn and learn more at Forward-Looking Statements B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to an agreement to sell its Diamond Power businesses to ANDRITZ, demand for our products, future projects, and growth strategy. 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.
Fibre2Fashion
23-05-2025
- Business
- Fibre2Fashion
Elixrr taps ANDRITZ for first MDF Plant in India
International technology group ANDRITZ has received an order from Elixrr Industries Pvt. Ltd. to supply a pressurized refining system to their mill in Madhya Pradesh, India. ANDRITZ will supply a pressurized refining system to Elixrr Industries' mill in Madhya Pradesh, India, marking Elixrr's entry into the MDF market. The system, featuring an S1056 refiner and India's first C-Feeder, will process 35 t/h of wood. Start-up is set for Q1 2026. This is ANDRITZ's 10th MDF project in India, reinforcing both firms' focus on sustainability. Start-up is planned for the first quarter of 2026. The new system will process mainly eucalyptus and poplar, as well as mixed wood, at a capacity of 35 t/h. Key components include an S1056 refiner with an installed power of 5500 kW as well as a C-Feeder, the first to be supplied to India. With this investment, the nonwovens manufacturer Elixrr, is entering the MDF market. For ANDRITZ, this will be the 10th MDF system delivered to India. Raman Poddar, President – MDF at Elixrr, says: 'We chose ANDRITZ because we trust in their proven expertise in refining systems. This project aligns with our shared commitment to sustainability and innovation. The new system will enable us to position ourselves in the Indian MDF market.' Aniket Mishra, Project Manager – MDF at Elixrr adds: 'This is a first for us, which is why we want to make sure we're on the safe side. I'm truly looking forward to working with ANDRITZ — I'm confident they are exactly the right partner to have by our side for this journey.' Elixrr is a manufacturer of eco-friendly, advanced nonwoven fabrics for applications such as medical and personal care. The company uses innovative technology and sustainable practices to deliver high-quality, customizable products. Its fully automated facility follows Industry 4.0 standards, ensuring efficiency and environmental responsibility. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
