CHARLOTTE, N.C.(BUSINESS WIRE)Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) today announced actions to proactively restructure its traditional power business in advance of a lower projection for U.S. coal generation and has updated guidance for 2016 to reflect:
These changes will allow us to continue to provide outstanding service to our customers and maintain solid profit margins in our power business despite an expected 15-20% reduction in U.S. coal customers demand for our parts and services by 2017 or 2018.
- The net impact of the restructuring and decreased coal-related revenue in the second half of 2016.
- A charge to correct an engineering de…
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