press release

July 6, 2020, 4:45 p.m. EDT

BWXT Appoints Martyn Coombs to Lead Nuclear Medicine Business as President, BWXT ITG Canada

BWX Technologies, Inc. /zigman2/quotes/200150322/composite BWXT +1.54% today announced that Martyn Coombs has been appointed president, BWXT ITG Canada, Inc. (BWXT ITG Canada), effective July 20, 2020.

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In this role, Coombs will have P&L responsibility for BWXT’s medical isotope business, based in Canada, with facilities in Kanata, Ontario and Vancouver, British Columbia. In addition to leading the existing business, Coombs will also be responsible for guiding the successful launch of BWXT’s technetium-99m generator product line currently in development, and growing the overall business. Coombs will be replacing Tom Burnett, who is retiring.

“Martyn has significant experience within both the pharmaceutical and medical technology sectors, particularly in nuclear medicine, and has a successful track record in leading organizations and teams through transformation and innovation,” said Rex Geveden, BWXT’s president and chief executive officer. “We are very pleased to have someone of Martyn’s caliber join BWXT to lead this growing and critical segment of our business.”

BWXT ITG Canada, a division of the Nuclear Power Group segment of BWXT led by President John MacQuarrie, was formed in 2018 shortly after BWXT announced new breakthrough medical isotope technology and a successful acquisition that enabled the organization’s entrance into the medical radioisotope market.

“Nuclear medicine is critically important. A weakness for many years has been the fragile supply of technetium-99m and other isotopes,” said Coombs. “I believe that the BWXT technology has the opportunity to make a real difference, improve supply to patients, and help people get better from illness. In so doing, at BWXT we have the opportunity to become a leading player in nuclear medicine, and I am very pleased to join this company.”

Coombs brings with him over 15 years of experience in senior level leadership within the nuclear medicine business, including his most recent role as CEO of Predict Ltd., four years as president of Jubilant DraxImage in Montreal, nine years with Amersham PLC (since acquired by GE Healthcare), five years in Japan as the number-two executive for Nihon Medi-Physics, and two years as CEO of ImaginAb, while also serving as an advisor to SHINE.

Coombs earned a Bachelor of Science in applied mathematics from the University of Reading and holds an MBA with Warwick Business School.

Forward-Looking Statements BWXT cautions that this release contains forward-looking statements, including statements relating to expectations for the production, performance, timing and impact of our medical isotope technology and technetium-99m. These forward-looking statements involve a number of risks and uncertainties, including, among other things, changes in market demand for, delays in and commercialization of our technetium-99m production; competition in an environment of rapid technological change; and the enforcement and protection of our intellectual property rights. If one or more of these or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, please see BWXT’s annual report on Form 10-K for the year ended December 31, 2019 and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. BWXT cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

About BWXT At BWX Technologies, Inc. <SYMBOL COUNTRY="US" EXCHANGE="U.S.: NYSE" TICKER="BWXT" ID="19622740" COMPANY="BWX Technologies Inc." MKTW-TICKER="US:BWXT" />, we are People Strong, Innovation Driven. Headquartered in Lynchburg, Va., BWXT provides safe and effective nuclear solutions for national security, clean energy, environmental remediation, nuclear medicine and space exploration. With approximately 6,600 employees, BWXT has 12 major operating sites in the U.S. and Canada. In addition, BWXT joint ventures provide management and operations at more than a dozen U.S. Department of Energy and NASA facilities. Follow us on Twitter at @BWXTech and learn more at www.bwxt.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200706005473/en/

SOURCE: BWX Technologies, Inc.

Media Contact
Natalie Cutler
Director, Communications, BWXT Canada Ltd.
519-620-5288
nacutler@bwxt.com Investor Contact
Mark Kratz
Director, Investor Relations
980.365.4300
investors@bwxt.com

COMTEX_367769327/2456/2020-07-06T16:45:21

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/zigman2/quotes/200150322/composite
US : U.S.: NYSE
$ 58.85
+0.89 +1.54%
Volume: 150,056
Sept. 22, 2020 2:43p
P/E Ratio
20.39
Dividend Yield
1.29%
Market Cap
$5.52 billion
Rev. per Employee
$287,982
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