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BRIEF-Babcock & Wilcox Reports Structural Steel Issue at U.K. Project
September 27, 2017 / 11:29 AM / in 23 days

BRIEF-Babcock & Wilcox Reports Structural Steel Issue at U.K. Project

Sept 27 (Reuters) - Babcock & Wilcox Enterprises Inc:

* Expect total cost impact to other two projects to be below $10 to $15 million ​

* Cost impact estimates dont take into account possible recoveries from third parties

* Provides update on U.K. renewable projects

* Identified a structural steel issue at a renewable energy project in United Kingdom​

* Expect total cost impact to first project will be in range of $10 to 15 million

* Management believes issue is result of engineering error by subcontractor

* Has proactively stopped work at two renewable projects in United Kingdom that have similar engineering designs​

* Work at a renewable energy project in United Kingdom​ has been stopped at project pending further investigation Source text for Eikon: Further company coverage:

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