Thermal Engineering International acquires assets of EFCO

Burlington, MA, Nov. 25, 2003 — Thermal Engineering International (USA) Inc. (TEi), based in Los Angeles, CA, a subsidiary of Babcock Power Inc. (BPI), based in Burlington, MA, announced that it has acquired the rights to certain assets of Engineers and Fabricators Company, (EFCO), Houston, Texas, which entered bankruptcy earlier this year. EFCO was the successor company to the former Westinghouse Electric Company’s heat exchanger division.

TEi has acquired all of the drawings, bills of materials, patents, trademarks, trade names, copyrights, product formulae, trade secrets, proprietary know-how and technology, licenses, advertising, installation lists, and design programs used in the conduct of the operations of EFCO. Effective immediately, TEi will commence servicing the EFCO customer base including its aftermarket parts and services needs.

George Phillips, President and CEO of TEi, stated, “TEi is extremely pleased to be able to make this important acquisition. EFCO was a well-known supplier of heat exchangers to the chemical processing, oil refining, natural gas processing and electric utility industries. The opportunity to gain this additional technology and design information for the Westinghouse feedwater heater installed base will enhance TEi’s overall capabilities as an equipment provider to the heat exchanger market and, in particular, as an aftermarket services provider to the electric utility and process businesses.”

Since the mid 1950’s, TEi has been an industry leader in supplying feedwater heaters for new power plants, as well as replacement feedwater heaters for existing plants, including sub critical and supercritical fossil power plants, and nuclear units. TEi also provides moisture separator reheaters to nuclear facilities, steam surface condensers for fossil and nuclear plants, and various services associated with maintaining and upgrading such heat exchangers.

BPI, through its subsidiaries, is a global supplier of technology, equipment, and services to the power generation industry. In addition to the products and services furnished by TEi, BPI designs, manufactures and services heat recovery steam generators through its Vogt Power International subsidiary, located in Louisville, KY, and provides steam generators, environmental solutions (including SCRs, flue gas scrubbers and mercury removal systems), and after market solutions to the electric utility and waste-to-energy industries through its environmental and services subsidiaries located in Worcester, MA.

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