McDermott (MDR) Subsidiary Acquires the Intech Group of Companies

July 15, 2008 1:14 PM EDT

McDermott International, Inc. (NYSE: MDR) announced today that its subsidiary, The Babcock & Wilcox Company ("B&W"), has purchased the Intech group of companies to expand B&W's capabilities in serving the U.S. commercial nuclear service market, strengthen its position in the Canadian nuclear service market, and enhance its existing inspection services to fossil plant customers.

The Intech companies comprise Intech, Inc., Ivey-Cooper Services, L.L.C. and Intech International Inc. Intech, Inc. provides nuclear inspection and maintenance services, primarily for the U.S. market. Intech International Inc. provides non-destructive testing, field engineering and repair, and specialized tooling services primarily for the Canadian nuclear power generation industry. Ivey-Cooper Services provides non-destructive inspection services to fossil-fueled power plants as well as chemical, pulp and paper, and heavy fabrication facilities.

Terms were not disclosed.

McDermott International, Inc. is an engineering and construction company with specialty manufacturing and service capabilities and is the parent company of the McDermott group of companies, including J. Ray McDermott, S.A. (JRMSA) and The Babcock & Wilcox Company (B&W). [SM]

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