kbr inc (KBR) Key Developments
KBR Wins Licensing & Design Services Contract for Ammonia Plants
May 26 15
KBR Inc. announced 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 standard-setting technology to cut production costs for ToAZ. KBR has been involved in the licensing, design, engineering and/or construction of more than 230 ammonia plants worldwide. 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.
KBR Wins its Appeal in the U.S. Court of Appeals for the Ninth Circuit
May 18 15
KBR announced that it won its appeal in the U.S. Court of Appeals for the Ninth Circuit. The Court of Appeals ruled in KBR's favor, and vacated and reversed an $81 million judgment against the company. The now-vacated judgment had been entered by a federal magistrate judge in Oregon in favor of a group of Oregon national guardsmen who alleged they were exposed to Iraqi-supplied sodium dichromate in 2003 during the Iraq war when deployed by the U.S. Army to provide force protection at a water treatment plant in Iraq. The Court of Appeals held that KBR was not subject to personal jurisdiction in Oregon, thus agreeing with what KBR had contended years earlier at the beginning of the lawsuit. As a result, the Court of Appeals reversed the $81 million judgment in its entirety. Approximately 130 other plaintiffs brought a similar lawsuit in federal court in Houston, Texas. The federal judge in the Texas case granted summary judgment on the merits in favor of KBR with respect to all of plaintiffs' claims except for their claim for intentional infliction of emotional distress.
KBR Appoints Jay Ibrahim as President of Engineering and Construction, Middle East and North Africa (Mena), Effective May 1, 2015
May 15 15
KBR announced that Jay Ibrahim has been appointed to serve as President of Engineering and Construction, Middle East and North Africa (MENA). Mr. Ibrahim has 21 years of experience in the Middle East Region, having served in a variety of engineering, project management, business development and business management roles for Parsons E&C/WorleyParsons. He will lead KBR's continued expansion in the Region, which is expected to provide growth opportunities throughout the Hydrocarbons value-chain (upstream, midstream and downstream). Mr. Ibrahim brings to KBR a wealth of experience in complex contract negotiations, business analysis and management, and long-range strategic planning in international markets, across multiple business sectors. Mr. Ibrahim's appointment was effective May 1, 2015 and he will be located in Abu Dhabi, UAE.
KBR, Inc. Declares Quarterly Cash Dividend, Payable on July 15, 2015
May 14 15
KBR, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.08 per share on the company's common stock, par value $0.001 per share, to be paid on July 15, 2015 to stockholders of record on June 15, 2015.
KBR, Inc. Presents at Credit Suisse 23rd Annual Offshore Technology Conference Tour, May-04-2015 06:00 PM
May 1 15
KBR, Inc. Presents at Credit Suisse 23rd Annual Offshore Technology Conference Tour, May-04-2015 06:00 PM. Venue: The Four Seasons Houston, 1300 Lamar Street, Houston, TX 77010, United States. Speakers: Jack B. Moore, Director, Member of Compensation Committee and Member of Nominating & Corporate Governance Committee.