HOUSTON, Oct. 31, 2014 (GLOBE NEWSWIRE) -- KBR, Inc. (NYSE:KBR) announced today that it has been awarded an indefinite-delivery/indefinite quantity job order construction contract by the Naval Facilities Engineering Command Europe Africa Southwest Asia for the largest U.S. base in Africa.
This contract award is the second recent contract awarded to KBR by NAVFAC to support military operations at Camp Lemonnier in Djibouti, Africa. KBR is currently performing operations and maintenance services under the Base Operations Support Services (BOSS) contract.
Under the terms of the contract, KBR will perform renovations, repairs, maintenance, replacement, alterations, demolition and small/midcap construction for Department of Defense activities in Djibouti, Africa. The value of the contract awarded to KBR is valued up to $50 million over five years.
"KBR's prior success working in Djibouti has led to the award of this contract," said Stuart Bradie, KBR President and CEO. "KBR has long been a proud supporter of the U.S. military. We have successfully delivered on projects in harsh, complex environments in which the military has served and this project is no different."
Expected revenue from this contract will be booked as task orders are awarded to the Infrastructure, Government and Power business segment.
About KBR
KBR is a global engineering, construction and services company supporting the energy, hydrocarbons, chemicals, 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.
Zac Nagle
Vice President, Investor Relations
713-753-5082
Investors@kbr.com
Media
Richard Goins
Director, Communications
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