Aug. 11--Barberton's Babcock & Wilcox campus will continue to play a major technology role for one of the nation's largest energy and fossil fuel engineering firms, its top executives say.

Houston-based McDermott International today touted the startup of state-of-the-art anti-pollution technology at subsidiary Babcock & Wilcox Power Generation Group's research and development facility in Barberton.

The comments came as company officials told industry analysts they were pleased with the parent company's second-quarter finances, which were released late Monday. Income and revenue were down from a year ago, but beat consensus estimates by industry analysts.

"Our results were solid for the quarter and also for the first half of the year," said John Fees, McDermott's chief executive officer.

Fees said among the company's accomplishments in recent months was the completion of construction and the start of pilot testing of carbon dioxide control technology at B&W's Regenerative Solvent Absorption Technology facility near the Barberton firm's headquarters on South Van Buren Avenue. The 7,500-square-foot, $11.8 million facility is at the B&W Research Center.

"We believe McDermott is well positioned for a carbon-constrained world, which will make us sought by customers and industry partners alike," Fees said. B&W Power Generation is experimenting with pollution control technology at other facilities and coal-fired power plants, he said.

B&W is one of Summit County's largest private employers, with about 2,000 people in its coal and nuclear divisions.

Fees said he is pleased with the results from the demonstration projects.

The solvent absorption technology is designed so that minimal energy is wasted in capturing carbon dioxide; the captured gas would then be sequestered elsewhere instead of being released into the atmosphere.

"We've got a very comprehensive program there. We're proud of it," Fees said. "We think it's unique in the industry."

The company continues to monitor how the federal government will address environmental and carbon dioxide legislation, Fees said. McDermott is experimenting with solar energy as well, he said.

McDermott reported net income of $92.6 million, or 40 cents per share, on revenue of nearly $1.6 billion. Income was down 47.8 percent from a record second quarter in 2008 of $177.5 million, or 77 cents per share, on revenue of nearly $1.8 billion.

Most of the revenue decrease came from lower activity in B&W's Power Generation Systems segment and also in part because of higher pension costs, McDermott reported.

Shares of McDermott rose $1.40 to $22.72 today. Shares are up 130 percent, including reinvested dividends, since Jan. 1 and are down 45.7 percent from a year ago.

Jim Mackinnon can be reached at 330-996-3544 or jmackinnon@thebeaconjournal.com.

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