Babcock &Wilcox Splitting into Two Companies

Lynchburg, VA- One of Lynchburg's biggest employers is splitting up. Babcock & Wilcox is dividing its business into two independent, publicly traded companies.

Their fossil fuel power generation business will keep the name Babcock and Wilcox. The government and nuclear operations business will be called BWX Technologies.

BWXT will be headquartered in Lynchburg. B&W spokesperson Aimee Mills says the split should be finalized by the middle of next year. We're told the split is part of a plan to increase value for shareholders.