The Babcock & Wilcox Company (B&W) plans to continue existing activities at its Erwin, Tennessee, facility. The transaction is contingent upon obtaining regulatory approvals and satisfying other closing conditions. The transaction is expected to be completed by the end of 2008.

John Fees, CEO of B&W, said: Nuclear Fuel Services (NFS) is a great addition to the B&W portfolio of businesses, complementing the products and services we currently provide. B&W and NFS have been major contributors in both the government and commercial nuclear industries for the past five decades.