Leading clean energy technology and services provider, The Babcock & Wilcox Co. (BWC) said that a manufacturing facility has been built in China for a subsidiary of Babcock & Wilcox Power Generation Group, Diamond Power International, Inc. (“DPII”).
The ownership and operating rights of the new boiler auxiliary equipment manufacturing facility will be held by Diamond Power Machine (Hubei) Co., Inc., DPII’s joint venture in China.
The technologically advanced facility will work toward enhancing efficiency through new techniques and international quality levels. The Hubei facility, located in an industrial park close by, unifies two plots containing several buildings into a single facility.
Management at DPII believes that the facility would aid the unit in expanding its Asian as well as the global export markets.
At BWC Power Generation Group, management expects this project to strengthen its presence in China and serve customers better.
Headquartered in Lancaster, Ohio, DPII is one of the leading firms in ash handling and boiler cleaning. It has been supporting power generation, pulp & paper production, and industrial markets with cutting-edge technological solutions for over a century.
Headquartered in Charlotte, N.C., BWC is engaged in providing clean energy technology and services for the nuclear, fossil and renewable power markets worldwide. The company operates in four business units: Power Generation, Nuclear Operations, Technical Services and Nuclear Energy.
BWC currently holds a Zacks Rank #3 (Hold), implying that it is expected to perform in line with the broader U.S. equity market over the next one to three months.
Meanwhile, one can look at other energy sector stocks such as China Petroleum & Chemical Corp. (SNP), Magellan Midstream Partners LP (MMP) and Dril-Quip, Inc. (DRQ). All these currently sport a Zacks Rank #1 (Strong Buy).