Yahoo Finance KBR Awarded Licensing & Design Services Contract for Ammonia Plants
HOUSTON -- May 26, 2015 -- KBR Inc. (KBR) announced today that it has been awarded a contract by OJSC Togliattiazot (ToAZ) to provide licensing, basic engineering design, front-end engineering and design services to revamp ToAZ`s existing seven ammonia plants in Togliatti, Samara region, Russia.
Under the terms of the contract, KBR will supply ToAZ with its proprietary ammonia technology to significantly increase overall ammonia production capacity while simultaneously increasing energy efficiency and overall reliability of the plants. KBR will use its industry standard-setting technology to cut production costs for ToAZ.
"This contract is a testament to KBR`s expertise in the ammonia industry," said John Derbyshire, President Technology & Consulting. "We are pleased to continue our work with ToAZ as it expands its Togliatti manufacturing site. This win is indicative of KBR`s strategic commitment to winning the right work."
Considered a world leader in ammonia technology, KBR has been involved in the licensing, design, engineering and/or construction of more than 230 ammonia plants worldwide.
"ToAZ has embarked on an ambitious plan to revamp its ammonia plants in Russia and we are very pleased to enter into a contract with KBR to help us achieve our strategic objectives," said Sergey Makhlay, Chairman, ToAZ.
The contract value was not disclosed. Expected revenue from the contract will be included in KBR`s second quarter 2015 backlog of unfilled orders for its Engineering & Construction and Technology & Consulting business lines.
About KBR, Inc.
KBR, Inc. is a global technology, engineering, procurement and construction company serving the hydrocarbons and government services industries, employing about 25,000 people worldwide with customers in more than 70 countries and operations in 40 countries across three distinct global businesses:
Technology & Consulting, including proprietary technology in refining, ethylene, ammonia and fertilizers, and gasification; and niche consulting and know-how through Granherne/Energo and GVA;
Engineering & Construction, including Upstream Oil & Gas; LNG/GTL; Downstream Oil & Gas, Petrochemicals and Chemicals; and differentiated EPC; and,
Government Services, including program management and long term annuity contracts.
KBR is proud to work with its customers across the globe to provide technology, value-added consulting services and integrated EPC skills to ensure a consistent project delivery with predictable results. At KBR, we deliver.
Visit http://www.kbr.com.
Forward Looking Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements regarding our plans, objectives, goals, strategies, future events, future financial performance and backlog information and other information that is not historical information. When used in this presentation, the words "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "forecasts" or future or conditional verbs such as "will," "should," "could," or "may," and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon our current expectations and various assumptions. Our expectations, beliefs, and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management`s expectations, beliefs, and projections will be achieved. There are numerous risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from the forward-looking statements contained in this presentation. These risks and uncertainties include, but are not limited to: current or future economic conditions; our ability to obtain and perform under contracts from existing and new customers, including the U.S. Government; exposure to cost overruns, operating cost inflation and potential liability claims and contract disputes; access to trained engineers and other skilled workers; risks relating to operating through joint ventures and partnerships; risks inherent in doing business internationally; potential tax liabilities; maritime risks; changes in the demand for our services and increased competition; protection of intellectual property rights; risks associated with possible future acquisitions; risks related to our information technology systems; impairment of goodwill and/or intangible assets; reduction or reversal of previously recorded revenues; risks relating to audits and investigations, including by governments; compliance with laws and regulations, and changes thereto, including those relating to the environment, trade, exports and bribery; our creditworthiness and ability to comply with the financial covenants in our credit agreement; and other risk factors discussed in our most recently filed Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other Securities and Exchange Commission filings. All forward-looking statements attributable to us, or persons acting on our behalf, apply only as of the date made and are expressly qualified in their entirety by the cautionary statements in this presentation. Except as required by law, we undertake no obligation to revise or update forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.
For further information, please contact:
Investors
Zac Nagle
Vice President, Investor Relations
713-753-5082
Investors@kbr.com
Media
Marit Babin
Director, Global Communications & Government Relations
713-753-3800
mediarelations@kbr.com
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: KBR, Inc. via GlobeNewswire
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