Last $16.64 USD
Change Today +0.44 / 2.72%
Volume 1.7M
KBR On Other Exchanges
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As of 8:04 PM 01/29/15 All times are local (Market data is delayed by at least 15 minutes).

kbr inc (KBR) Key Developments

KBR Signs Technical Services Agreement/MOU for Magnolia LNG Export Terminal

KBR, Inc. announced that it has been awarded a technical services agreement by Magnolia LNG LLC to provide cost verification and other services associated with the delivery of the Magnolia LNG export terminal project located in the Port of Lake Charles, Louisiana. Under the terms of the contract, KBR will complete a FEED gap assessment, work plan and support completion of the remaining FEED activities. This agreement includes the development of a project EPC contract execution plan, schedule, contract and pricing as well as an EPC bridging plan for the construction of the export facility.

KBR, Inc. Announces Board Changes

KBR, Inc. announced the appointment of Umberto della Sala as a member of the KBR Board of Directors effective January 20, 2015. Mr. della Sala retired from Foster Wheeler AG., on December 21, 2013. Mr. della Sala spent his entire career with Foster Wheeler starting in 1973 and enjoying positions of increasing responsibility culminating in his serving as its President and Chief Operating Officer from 2007 until his retirement and as its interim Chief Executive Officer from October 2010 through September 2011. Mr. della Sala also served on the Foster Wheeler Board of Directors from 2011 to May 2014. The company also announced that Linda Z. Cook is retiring from the KBR Board of Directors effective January 20, 2015, to focus on her role as Chief Executive Officer of Harbour Energy Ltd.

KBR Inc. Receives Feed Contract for Mosaic Ammonia Plant Revamp

KBR Inc. announced that it has been awarded the license and engineering contracts to perform front end engineering and design for a potential expansion of Mosaic's Ammonia Plant in St. James, La. KBR's "lean FEED" approach will debottleneck the plant and increase Mosaic's ammonia production capacity by 20% at their plant located on the banks of the Mississippi, just south of Baton Rouge. KBR's proprietary ammonia technology will be utilized to revamp and expand the original KBR designed plant. Additionally, KBR will provide the basic engineering design and the FEED requirements necessary to produce a final estimate prior to project approval.

KBR, Inc. Announces Business Reorganization into Three New Businesses

KBR, Inc. announced the results of a strategic review which will see the company become a more streamlined, empowered and accountable global organization with three strategic focus areas: Growth through differentiated consulting services and technology targeting oil and gas and chemicals to enhance the technical and financial returns to the company customers. Enhanced returns through globalized project delivery and differentiated engineering, procurement, construction, commissioning and maintenance services. Global government services focused on long-term contracts. Effective December 31, 2014, KBR, Inc. will be reorganized into three new businesses that will focus on core strengths in consulting, technology, engineering and construction and government services: Technology & Consulting combines all proprietary KBR technologies, knowledge-based services and KBR companies, Granherne, Energo and GVA under one customer-facing global business to provide licensed technologies and consulting services to the oil and gas value chain, for wellhead to crude refining and to specialty chemicals production. In addition to sharing many of the same customers, these businesses share their approach of early and continuous involvement to deliver the most optimal solution to meet the customer's objectives through early planning and scope definition, advanced technologies and project lifetime support. This focus allows early customer engagement and continuity through to full project delivery. Engineering & Construction (E&C) is KBR's project delivery business. It will leverage the company operational and technical excellence as a global provider of engineering, procurement, construction, commissioning and maintenance for oil and gas, refining, petrochemicals, chemicals and industrial customers. Through a regional structure, E&C has been designed to be closer to its customers and capable to execute global project delivery on a consistent basis throughout the world. Government Services will focus on long-term services contracts with annuity streams particularly for the United Kingdom, Australian and United States governments. KBR functions at a corporate level will be streamlined. This will result in a lean corporate office with responsibility for strategy and governance.

KBR Announces Result Of Strategic Options Evaluation; May Divest Assets

KBR, Inc. (NYSE:KBR) has announced the outcome of strategic review. President and Chief Executive Officer of KBR, Stuart Bradie said that the new organization is designed to simplify the structure, reduce overhead costs and create a more market-focused business. He added, “The restructure we are announcing today will create a new KBR focused on its core strengths structured along delivery lines that will enable us to meet the expectations of our customers and other stakeholders. This, combined with reduced complexity, will provide a more robust balance sheet and greater accountability and empowerment for our people. KBR will be well placed to meet the challenges of the future.” As a result of this Strategic Review, KBR will be divesting or exiting the following non-strategic businesses as it works to streamline global operations and drive efficiency with a goal of reducing annual operating costs of at least $200 million by 2016.

 

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