Babcock & Wilcox Enterprises Inc. has completed its spin-off from its former parent company, and its stock will trade independently on the New York Stock Exchange. B&W will continue to be headquartered in Charlotte, N.C., with its largest center of operations in Barberton, Ohio. Babcock & Wilcox was formerly the power generation segment of The Babcock & Wilcox Co.
With the completion of its spin-off from its former parent company, Babcock & Wilcox comprises three primary business segments:
- Industrial Environmental Division. This unit currently is composed of Babcock & Wilcox subsidiary B&W Megtec and will provide advanced environmental technologies and services for industrial customers worldwide. Ken Zak, Industrial Environmental Division senior vice president, will lead this division.
- Global Services Division. This unit’s primary focus will include service projects, field engineering, replacement parts and construction for energy and industrial customers. Mark Low, Global Power Division senior vice president, will lead this division.
- Global Power Division. This unit’s primary focus will include the engineering, manufacture, procurement, commissioning and construction of renewable and fossil fuel power plants and environmental systems and other related equipment for the worldwide energy industry as well as B&W’s joint venture operations. Paul Scavuzzo, Global Power Division senior vice president, will lead this division.