BWXT Joint Venture Awarded $1.5 Billion Environmental Management Contract

LYNCHBURG, Va.–(BUSINESS WIRE)–BWX Technologies, Inc. (NYSE:BWXT) announced today that its Four Rivers
Nuclear Partnership, LLC joint venture with lead partner CH2M and Fluor
Corporation was awarded the Paducah Deactivation and Remediation
Contract at the U.S. Department of Energy’s (DOE) Paducah Gaseous
Diffusion Plant (PGDP) in Kentucky.

The contract is valued at approximately $1.5 billion over 10 years. It
includes a five-year base term, followed by three-year and two-year
option periods unilaterally exercisable by DOE.

The scope of the contract focuses on the continued deactivation of the
PGDP facilities and preparing the facilities for future demolition,
while maintaining compliant waste management and environmental
remediation operations. The goal of the deactivation and remediation
activities is to reduce risk and accelerate the reduction of future
surveillance, maintenance and demolition costs.

“BWXT is extremely pleased to add the Paducah Deactivation and
Remediation Contract to our growing portfolio of nuclear environmental
management projects,” said Rex D. Geveden, BWXT’s President and Chief
Executive Officer. “Our competencies translate very well to this market,
and with our partners we expect to deliver significant value to the
Department of Energy in the execution of this contract.”

BWXT is a partner in joint ventures serving DOE’s Office of
Environmental Management at locations such as the Savannah River Site,
the Portsmouth Gaseous Diffusion Plant, the West Valley Demonstration
Project and the Waste Isolation Pilot Plant (WIPP).

Forward Looking Statements

BWXT cautions that this release contains forward-looking statements,
including statements relating to the performance, timing and value, to
the extent contract value can be viewed as an indicator of future
revenues, of the Paducah Gaseous Diffusion contract and options. These
forward-looking statements involve a number of risks and uncertainties,
including, among other things, modification or termination of the
contract, delays or other difficulties in the commencement or execution
of the options, and the availability of U.S. Government appropriations.
If one or more of these or other risks materialize, actual results
may vary materially from those expressed. For a more complete discussion
of these and other risk factors, please see BWXT’s annual report on Form
10-K for the year ended December 31, 2016 and subsequent quarterly
reports on Form 10-Q filed with the Securities and Exchange Commission.
BWXT cautions not to place undue reliance on these forward-looking
statements, which speak only as of the date of this release, and
undertakes no obligation to update or revise any forward-looking
statement, except to the extent required by applicable law.

About BWXT

Headquartered in Lynchburg, Va., BWX Technologies, Inc. (NYSE:BWXT)
is a leading supplier of nuclear components and fuel to the U.S.
government; provides technical and management services to support the
U.S. government in the operation of complex facilities and environmental
remediation activities; and supplies precision manufactured components,
services and fuel for the commercial nuclear power industry. With
approximately 6,100 employees, BWXT has nine major operating sites in
the U.S. and Canada. In addition, BWXT joint ventures provide management
and operations at a dozen U.S. Department of Energy and two NASA
facilities. Follow us on Twitter @BWXTech and learn more at www.bwxt.com.

Contacts

BWX Technologies, Inc.
Media Contact:
Jud Simmons,
434-522-6462
Director, Media & Public Relations
[email protected]
or
Investor
Contact:
Alan Nethery, 980-365-4300
Vice President,
Investor Relations
[email protected]