FOR IMMEDIATE RELEASE
January 14, 2014
HOUSTON - KBR (KBR), a global engineering, construction and services company, today announced it has been awarded a five-year Master Services Agreement (MSA) with DuPont Engineering (DuPont) to provide engineering, procurement and construction management (EPCM) services for most DuPont facilities in the USA and Mexico.
Expected revenue from the first year of the undisclosed contract value will be included in the Hydrocarbons segment`s backlog of unfilled orders in the fourth quarter of 2013. The balance of the contract value will be added to backlog during the life of the agreement.
This contract extends the long-standing EPCM services support of DuPont facilities in the U.S. Northeast region to now include the entire U.S. region and Mexico. In combination with the recently awarded industrial services contract, KBR will now provide comprehensive engineering, procurement, construction management, and continuous construction and maintenance services for most DuPont manufacturing sites in the USA. As part of this expanded relationship, KBR will open a new office in Charleston, W.Va.
"We have a long and proud history of top quartile project execution with DuPont, and this agreement is an outstanding milestone in further strengthening KBR`s 20-plus year partnership with an industry leader in the safe and efficient development and execution of capital projects," said Roy Oelking, Group President, Hydrocarbons. "We are fully committed to continuing this partnership with DuPont in new locations in support of ongoing excellence in safe and profitable project delivery for years to come."
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 www.kbr.com.
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 company.
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 of Communications
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Source: KBR, Inc. via GlobeNewswire