HOUSTON, TX --(Marketwired - August 08, 2016) - KBR, Inc. (
Under the terms of the contract, KBR will provide complete construction services for this critically important investment in new generation environmentally friendly refrigerants at the Chemours plant site in Corpus Christi, Texas.
This work is expected to be completed over 18 months, with KBR executing all construction scope, providing construction management and direct hire craft labor. This new scope is in concert with the already completed early conceptual engineering and estimating for the project and the detailed design and procurement services currently being provided by KBR's Wilmington and Monterrey offices under a long-standing Master Services Agreement.
The addition to the Corpus Christi facility is an investment in large-scale manufacturing to expand the supply of Chemours' Opteon™ portfolio of refrigerants. This investment will triple capacity of Opteon products. The new plant will use a patented process to manufacture Opteon™ YF, which is used in automotive air conditioning and in refrigerant blends for a range of applications. The investment will create the world's largest facility for manufacturing hydrofluoroolefins (HFOs), and the location will allow Chemours to efficiently serve the growing market in North America and Europe, as well as the rest of the world.
"This significant award highlights KBR's strong partnership with Chemours, and also showcases our complete integrated EPC offering, beginning with the front end loading, continuing with detailed design, and now including award of full construction services for the entire project," said Stuart Bradie, KBR President and CEO.
"We are excited to be a part of this significant project with Chemours, and to continue to grow and maintain a substantial presence in the US Gulf Coast Region," Bradie continued.
For more than 40 years, KBR has designed and constructed chemical plants across the globe.
Revenue associated with this project will be booked into the backlog of unfilled orders for KBR's E&C Business Segment in the third quarter of 2016.
About KBR, Inc.
KBR, Inc. is a global technology, engineering, procurement and construction company serving the hydrocarbons and government services industries, employing approximately 25,800 people worldwide with customers in more than 80 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, incorporating KBRwyle, includes capabilities that span the full spectrum of government mission requirements including research and development, testing, engineering, logistics, deployed operations, and life-cycle sustainment.
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.
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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: Investors Lynn Nazareth Vice President, Investor Relations 713-753-5082 Investors@kbr.com Media Marit Babin Stout Director, Global Communications & Government Relations 713-753-3800 Mediarelations@kbr.com
