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AKRON, Ohio - Babcock & Wilcox Enterprises, Inc. (NYSE:BW) announced Thursday it has completed the previously disclosed sale of its Diamond Power International business to Austrian industrial group Andritz AG in a transaction valued at $177 million, subject to customary adjustments and expenses.
The company had previously announced its intention to divest the Diamond Power International unit as part of its ongoing business strategy. The transaction represents a significant move for the Akron, Ohio-based energy and environmental products provider.
Babcock & Wilcox, which specializes in energy and environmental products and services for power and industrial markets worldwide, continues to maintain its headquarters in Akron. The company operates as a key player in its sector, providing solutions to customers across global markets.
The sale announcement was made through a press release statement issued by Babcock & Wilcox. No additional details regarding the strategic rationale behind the transaction or plans for the proceeds were provided in the announcement.
Andritz AG, the acquirer in this transaction, is based in Austria and operates as a global supplier of plants, equipment, and services for various industries including hydropower stations, the pulp and paper industry, metal working and steel industries, and solid/liquid separation in the municipal and industrial sectors.
In other recent news, Babcock & Wilcox Enterprises, Inc. announced a quarterly dividend for its 7.75% Series A Cumulative Perpetual Preferred Stock, with shareholders on record as of June 20, 2025, eligible for the payment scheduled on June 30, 2025. The company also revealed an agreement to sell its Diamond Power International business to Austria-based ANDRITZ for $177 million, a move expected to close within 30 days and involve the transfer of around 400 employees. This sale is part of Babcock & Wilcox’s strategy to capitalize on its robust growth, highlighted by the highest bookings and backlog in decades, driven by increased energy demands in North America. Additionally, Galloway Capital Partners disclosed a 4.31% stake in the company, citing its potential undervaluation due to significant increases in bookings and backlog, as well as advancements in its BrightLoop technology. The company also completed an exchange transaction with institutional investors, issuing new senior secured notes valued at approximately $101 million. These developments indicate a strategic focus on strengthening its financial position and capitalizing on growth opportunities.
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