HOUSTON, Sept. 10, 2014 (GLOBE NEWSWIRE) -- KBR, Inc. (NYSE:KBR) announced today that it has been awarded a contract by Fertial SpA to provide licensing and basic engineering design services to revamp Fertial's Annaba and Arzew ammonia plants in Algeria.
Under the terms of the contracts, KBR will supply Fertial its proprietary ammonia technology to significantly increase the production capacity of the Annaba and Arzew plants while simultaneously helping Fertial increase energy efficiency and overall reliability.
"Fertial has embarked on an ambitious plan to revamp its ammonia plants in Algeria and we are very pleased to enter into a contract with KBR to help us achieve our strategic objectives" said Mr. Jorge Requena, Fertial Chief Executive Officer.
Considered a world leader in ammonia technology, KBR has been involved in the licensing, design, engineering and/or construction of more than 230 ammonia plants worldwide.
"This contract is a testament to KBR's expertise in the ammonia industry. We are pleased to continue our work with Fertial as it expands its Annaba and Arzew ammonia plants," said Stuart Bradie, KBR President and Chief Executive Officer.
The contract value was not disclosed. Expected revenue from the contract will be included in KBR's third quarter 2014 backlog of unfilled orders for its Hydrocarbons segment.
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.
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.
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Contact:
Investors
Zac Nagle
Vice President, Investor Relations and Communications
713-753-5082
Investors@kbr.com
Media
Richard Goins
Director, Corporate Communications
713-751-9471
Mediarelations@kbr.com
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