KBR, Inc.: KBR To Provide Purifier(TM) Technology for Two Russian Ammonia
FOR IMMEDIATE RELEASE
February 19, 2014
HOUSTON - KBR (NYSE: KBR), a global engineering, construction and services
company, announced today that Eurochem will use KBR's Purifier(TM) technology
licensed through Tecnimont S.p.A., in the design of two new ammonia plants
located at Kingisepp near St. Petersburg and Nevinnomyssk in southern Russia.
"Eurochem selected KBR's Purifier ammonia processing technology because it is
more reliable and has lower energy consumption than competing technologies in
the industry, resulting in reduced operating costs for the end user," said Roy
Oelking, KBR Hydrocarbons Group President.
Expected revenue from the contract will be included in the fourth quarter of
2013 backlog of unfilled orders for the Hydrocarbons segment.The contract
value was not disclosed.
"This award confirms that KBR is in the best position to provide Russia with
proven cost effective ammonia processing technologies to upgrade their aging
fertilizer plants," Oelking said.
As the world's leading supplier of ammonia process technologies, KBR has been
involved in the licensing, design, engineering and construction of more than
230 ammonia plants worldwide.
KBR is a global engineering, construction and services company supporting the
energy, hydrocarbons, power, industrial, civil infrastructure, minerals,
government services and commercial markets. For more information, visit
Tecnimont S.p.A. is the main operating company of an international industrial
group (Maire Tecnimont Group) leader in the sectors of Engineering &
Construction (E&C), Technology & Licensing and Energy & Ventures with specific
skills in plant engineering in particular in the hydrocarbon industry
(Fertilizers, Oil & Gas, Petrochemicals). For further information:
NOTE: The statements in this press release that are not historical statements,
including statements regarding future financial performance and backlog
information, 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 Halliburton Company; 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
KBR's Annual Report on Form 10-K dated February 20, 2013, Form 10-Q for the
quarters ended March 31, 2013, June 30, 2013, and September 30, 2013, recent
Current Reports on Forms 8-K, 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 more information contact:
Investor Relations and Communications
Director, Corporate Communications
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients.
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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