💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Babcock & Wilcox report "structural steel issue" at renewable energy project

Published 09/27/2017, 02:31 PM
© Reuters.  Babcock & Wilcox report "structural steel issue" at renewable energy project
BW
-
  • Babcock & Wilcox (BW -9.7%) plunges as much as 29% after saying a subcontractor error on a U.K. renewable energy project could raise project costs by $10M-$15M.
  • BW says it has stopped work on the project while it studies ways to correct the structural steel mistake, and has halted two other U.K. projects with similar engineering designs, although it does not expect the redesign of those projects will be as expensive as fixing the error at the first project.
  • BW also says it is seeking to be reimbursed by a third party for some or possibly all extra costs on the three projects.
  • Now read: Daily Insider Ratings Round Up 9/19/17: SIGM, SPKE, OPK, UAL, SYY, BW, GPMT, FEIM


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.