HOUSTON - July 10, 2014 - KBR, Inc. (KBR) announced today that it has been awarded a contract by the U.S. Navy Facilities Engineering Command, Atlantic for the base operating support services for Isa Air Base, Kingdom of Bahrain.
Under the terms of the contract, KBR will provide base operating support services to include all management, supervision, labor, materials, and equipment necessary to perform services for general information, management and administration, galley operations, housing facility support, wastewater, water and base support vehicles and equipment, and environmental for the base and its surrounding support sites. KBR was previously awarded a support contract in Bahrain under LOGCAP IV.
"This is a great opportunity for us to expand our sustainment operations on an installation that is continuing to grow and evolve," said Andy Summers, KBR Infrastructure, Government and Power Group President. "We are excited to work with the U.S. Navy on this strategically important project and to provide vital support to U.S. military members and their families."
The contract is for a one year base period with four option years. Included in our second quarter of 2014 backlog will be the undisclosed funded portion of the base year contract. The total value of the five-year contract, including options, will be $113,824,554 for the Infrastructure, Government and Power segment.
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.
Forward Looking Statement
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 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/A, 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.
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Source: KBR, Inc. via GlobeNewswire