Babcock &wilcox Examines Splitting Company

Babcock & Wilcox Co. is looking into splitting its $1.8 billion Power Generation business and its government and nuclear operations businesses into separately traded companies.There might be similarities with what B&W is exploring and the shareholder pressure Timken Co. came under more than a year ago. That pressure resulted in the Canton manufacture in July splitting into a steelmaking company and one that focuses on making bearings and providing other services.B&W’s announcement Wednesday came after an activist investment group based in Connecticut, Blue Harbour, disclosed earlier this year that it owns 6.5 percent of B&W’s shares, while another activist investor helped place a director on B&W’s board.While B&W is based in Charlotte, N.C., locally its Power Generation segment, which focuses primarily on the coal-fired power plant industry, has a significant presence in Barberton with about 1,700 employees.