KBR To Provide Purifier(TM) Technology for Two Russian Ammonia Plants
FOR IMMEDIATE RELEASE
February 19, 2014
HOUSTON - KBR (KBR), a global engineering, construction and services company, announced today that Eurochem will use KBR`s Purifier(TM) technology licensed through Tecnimont S.p.A., in the design of two new ammonia plants located at Kingisepp near St. Petersburg and Nevinnomyssk in southern Russia.
"Eurochem selected KBR`s Purifier ammonia processing technology because it is more reliable and has lower energy consumption than competing technologies in the industry, resulting in reduced operating costs for the end user," said Roy Oelking, KBR Hydrocarbons Group President.
Expected revenue from the contract will be included in the fourth quarter of 2013 backlog of unfilled orders for the Hydrocarbons segment. The contract value was not disclosed.
"This award confirms that KBR is in the best position to provide Russia with proven cost effective ammonia processing technologies to upgrade their aging fertilizer plants," Oelking said.
As the world`s leading supplier of ammonia process technologies, KBR has been involved in the licensing, design, engineering and construction of more than 230 ammonia plants worldwide.
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About KBR
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.
About Tecnimont
Tecnimont S.p.A. is the main operating company of an international industrial group (Maire Tecnimont Group) leader in the sectors of Engineering & Construction (E&C), Technology & Licensing and Energy & Ventures with specific skills in plant engineering in particular in the hydrocarbon industry (Fertilizers, Oil & Gas, Petrochemicals). For further information: www.mairetecnimont.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:
Zac Nagle
Vice President
Investor Relations and Communications
713-753-5082
Investors@kbr.com
Richard Goins
Director, Corporate Communications
713-751-9471
Mediarelations@kbr.com
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: KBR, Inc. via GlobeNewswire
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