Babcock & Wilcox rises after $177 million deal to sell boiler cleaning unit to ANDRITZ

Babcock & Wilcox Enterprises

05/06/2025 12:12

** Shares of energy tech company Babcock & Wilcox Enterprises BW.N rise 13.7% to 92 cents premarket

** Company says it has agreed to sell its boiler cleaning and monitoring unit Diamond Power International Business to Austria-based ANDRITZ for about $177 million

** Sale is expected to close within nearly 30 days and will include the transfer of about 400 employees to ANDRITZ

** "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" - BW CEO Kenneth Young

** As of last close, BW shares down 50.7% YTD

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))