HOUSTON, Dec. 4, 2014 (GLOBE NEWSWIRE) -- KBR, Inc. (NYSE:KBR) announced today it has signed an agreement with PT Rekayasa Industri (REKIND) to provide ammonia technology in the Indonesian, Southeast Asian and Asian markets.
Under this agreement, REKIND will exclusively promote and license KBR's proprietary ammonia technology, along with KBR's proprietary equipment, catalyst and automation packages to ammonia producers in the region. REKIND was established by the Indonesia government in 1981 to develop national capabilities in engineering, procurement, and construction services for large industrial plants. With over 30 years of experience in refinery and petrochemical projects REKIND is now one of the leading EPCC companies in Indonesia.
"This alliance with REKIND helps KBR increase its competitive edge for licensing ammonia technology particular in Indonesia, Southeast Asia and Asian markets," said Stuart Bradie, KBR President and CEO. "Together, we are well-positioned to win more ammonia projects in the region."
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.
Expected revenue from this alliance will be booked as licenses are awarded.
About KBR, Inc.
KBR, Inc. 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.
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713-753-5082
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