Losses on European Projects Threaten to Sink Babcock & Wilcox, an Industrial Info Market Brief

U.S.-based Power technology provider Babcock & Wilcox has a 5 p.m. (EST) deadline today to secure the ability to borrow money and avoid defaulting, according to regulatory filings. The company has ceased trading on the New York Stock Exchange.

The company's financial problems stem largely from losses tied to six European projects through its Vølund renewable energy business. The projects include biomass and waste-to-energy plants in Denmark and the United Kingdom.

Industrial Info is tracking more than $24.14 billion in global project activity that involves Babcock & Wilcox. This includes $17 billion in the Power Industry, and nearly $6.2 billion in the Chemical Processing Industry. More than $13.7 billion of the project activity is located in the U.S.