B&W in Talks With Toshiba Over Fukushima Daiichi Nuke Plant

Clean Energy company Babcock & Wilcox Co. (B&W) (NYSE:BWC) said it is in discussions with Toshiba Group to provide nuclear technical assistance and services to secure and maintain the safety of the nuclear power plants at Fukushima Daiichi in Japan.

However, the scope of work has not yet been defined, B&W said.

Toshiba is helping the Japanese Government and Tokyo Electric Power Co., Ltd. (TEPCO), the operator of the Fukushima power plants, to restore and maintain the safety of the affected nuclear power plants and to reinstate power in the region hit by the earthquake and tsunami.

Reactors at the Fukushima Daiichi plant, which lies 150 miles north of Tokyo, have leaked radiation after they were struck on March 11 by a massive earthquake and tsunami, leading to the world's worst nuclear crisis since Chernobyl 25 years ago.

Shares of B&W closed Monday's regular trading session at $31.68 on the NYSE.