KBR, Inc.: KBR to Construct Luxury High-Rise Apartment Tower in Bethesda, Md.
HOUSTON - April 3, 2014 -- KBR (NYSE:KBR) announced today that KBR Building
Group, a subsidiary of KBR and member of KBR Services Business Group, has been
awarded a contract by Kettler to construct a luxury, high-rise apartment tower
in downtown Bethesda, Md. Currently known as Element 28, the 101-unit building
will feature one-, two- and three-bedroom apartments, and approximately
3,500-square-feet of retail on the first level.
The 15-floor apartment community, designed by R2L Architects, will offer
residents an array of luxury amenities in a boutique building. The Element 28
site is located less than one block away from the Bethesda Metrorail station
and within walking distance of high-end shopping districts. Designed to earn
LEED Silver certification, Element 28 will showcase a number of sustainable
features, including a green rooftop offering indoor/outdoor lounge seating
intended for resident gatherings and sweeping views of the Washington metro
area. Additional amenities include a wine cellar, bicycle workshop, fitness
center, private outdoor terraces and a public plaza featuring a leaf-form
KBR Building Group's scope of work includes demolition of an existing
one-story buildingand is scheduled to beginthis month. Construction of the
new building will start immediately afterward.
"This is an exciting new development for downtown Bethesda," said Mitch
Dauzat, KBR Services Business Group President. "This award mirrors KBR
Building Group's customer-focused, best-in-class construction expertise and
furthers our long-time partnership with Kettler, known for its traditional
planned community concepts and innovative mixed-use designs that maximize
limited land in urban areas."
Expected revenue from the contract will be included in the second quarter 2014
backlog of unfilled orders for the Services segment.The contract value was
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including statements regarding future financial performance and backlog
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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
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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 27, 2014, 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.
Vice President, Investor Relations and Communications
Director, Corporate Communications
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the content, accuracy and originality of the information contained therein.
Source: KBR, Inc. via Globenewswire
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