HOUSTON, Oct. 13, 2015 (GLOBE NEWSWIRE) — KBR, Inc. (NYSE:KBR) announced today it has been awarded two indefinite-delivery/indefinite quantity (IDIQ) contracts by the U.S. Government for construction services worldwide.
KBR has been awarded a $249.5 Million Indefinite Delivery Indefinite Quantity (IDIQ) contract supporting various military installations by the U.S. Army Corps of Engineers, Europe District, out of Wiesbaden, Germany. KBR was selected along with five other firms to provide design and construction services for up to five years under the IDIQ contract.
KBR was also awarded a $95 Million fixed-price IDIQ multiple award task order contract for renovation work within U.S. embassy facilities worldwide. This five-year contract, which provides upgrades to tenant facilities, was awarded by the U.S. Army Corps of Engineers, Omaha District, as the contracting entity.
“This win is indicative of KBR’s strategic commitment to increase our market share by executing small capital construction projects in remote or austere international locations,” said Andrew Pringle, president of KBR’s Government Services division.
“KBR has successfully delivered mission critical renovation projects over the past five years in more than 25 international locations for the U.S. Government and we are pleased to continue that service,” said Byron Bright, Senior Vice President Government Services – Americas.
Revenue associated with these multiple award IDIQ contacts will be booked into backlog of unfilled orders for KBR’s Government Services Business Segment as task orders are awarded throughout the contract periods.
About KBR, Inc.
KBR, Inc. is a global technology, engineering, procurement and construction company serving the hydrocarbons and government services industries, employing approximately 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 subsidiaries Granherne, Energo and GVA
- Engineering & Construction, including Offshore Oil & Gas; Onshore Oil & Gas; LNG/GTL; Refining; Petrochemicals; Chemicals; differentiated EPC, and Industrial Services
- 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, integrated EPC delivery and Long Term Industrial Services to ensure consistent project delivery with predictable results. At KBR, we deliver.
Forward Looking Statement
The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company’s control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company’s indemnities from its former parent; changes in capital spending by the company’s customers; the company’s ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company’s ability to control its cost under its contracts; claims negotiations and contract disputes with the company’s customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.
KBR’s most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other Securities and Exchange Commission filings discuss some of the important risk factors that KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
For further information, please contact:
Vice President, Investor Relations
Director, Global Communications & Government Relations