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KBR Joint Venture Wins Significant Kuwait Base Operations and Security Support Services Contract for U.S. Army

HOUSTON,TX--(Marketwired - October 13, 2016) - KBR (KBR) announced today that its joint venture with Triple Canopy, Inc., KBR-Triple Canopy, LLC, was awarded the Kuwait Base Operations and Security Support Services (K-BOSSS 2.0) contract by the U.S. Army Contracting Command -- Rock Island. KBR owns 75% and Triple Canopy 25% of the KBR-Triple Canopy, LLC.

The KBR joint venture will provide: logistics; engineering services; installation support services including morale, welfare & recreation (MWR); information management; forms and publications, official mail, and reproduction services; postal operations; healthcare support services; operations, security, fire and emergency services.

Services will be performed in the Kuwait Area of Responsibility including: Camp Arifjan, Camp Buehring, Udairi Range Complex, Camp Patriot on the Kuwait Naval Base (KNB), the Aerial Port of Debarkation (APOD) located at the Kuwait City International Airport (KCIA), and Sea Port of Debarkation (SPOD) located at the Kuwait Port of Shuaiba.

"We are very pleased about this opportunity, along with Triple Canopy, to provide base operations and security support services for the Army in Kuwait," said Stuart Bradie, KBR President and CEO. "The KBOSSS 2.0 contract provides us the opportunity to continue our long, successful history providing major overseas installation services support solutions for the U.S. Armed Services. This win underscores KBR's reputation as a strategic services integrator providing disciplined delivery, high customer satisfaction and unparalleled performance in austere contingency environments and in their accompanying theater opening locations," continued Bradie.

KBR has successfully provided services support solutions for the U.S. joint Armed Services spanning the military operational continuum from contingencies to critical forward locations across the globe and at home. KBR provides Base Operations Support Services for the U.S. Navy in Djibouti and Bahrain while simultaneously providing immediate response services support solutions for the U.S Army in Kuwait, Iraq and much of Europe through the Army's Logistics Civil Augmentation (LOGCAP) IV contract. KBR is also currently operating in Poland supporting the U.S. Navy and Missile Defense Agency, providing Integrated Base Operations Support.

KBR's U.S. Government business division now executes services under the brand name "KBRwyle" and includes recent acquisitions Wyle, Inc. and heritage Honeywell Technical Solutions, Inc. (HTSI). KBRwyle provides capabilities that span the full spectrum of the life-cycle of Defense, Space, Aviation & Government Programs from program management, research and development, through test and evaluation, to operations, maintenance, field logistics and security support.

The contract is a firm fixed-price contract for one year with four option years. The total contract for the first year is valued at over $115M and the full contract is expected to exceed $800M over the five year life of the contract.

About KBR, Inc.

KBR is a global provider of differentiated professional services and technologies across the asset and program life cycle within the Hydrocarbons and Government Services Sectors. KBR employs over 31,000 people worldwide, with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses:

  • Government Services, serving government customers globally, including capabilities that cover the full life-cycle of defense, space, aviation and other government programs and missions from research and development, through systems engineering, test and evaluation, program management, to operations, maintenance, and field logistics
  • Technology & Consulting, including proprietary technology focused on the monetization of hydrocarbons (especially natural gas and natural gas liquids) in ethylene and petrochemicals; ammonia, nitric acid and fertilizers; oil refining; gasification; oil and gas consulting; integrity management; naval architecture and proprietary hulls; and downstream consulting
  • Engineering & Construction, including onshore oil and gas; LNG (liquefaction and regasification)/GTL; oil refining; petrochemicals; chemicals; fertilizers; differentiated EPC; maintenance services (Brown & Root Industrial Services); offshore oil and gas (shallow-water, deep-water, subsea); floating solutions (FPU, FPSO, FLNG & FSRU) and program management

KBR is proud to work with its customers across the globe to provide technology, value-added services, integrated EPC delivery and long term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.

Visit www.kbr.com

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.