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Stock Market & Financial Investment News

News Breaks
January 17, 2013
16:14 EDTKBRKBR awarded contract by Cambodian Petrochemical
KBR announced it was awarded a contract by Cambodian Petrochemical to provide licensing and engineering services for the Veba Combi Cracker, or VCC, Unit to be implemented in the Kampong Som Petrochemical Industrial Zone of Cambodia. Tianjin Petrochemical Engineering Design, or TPED, the EPC Contractor for the Unit, executed the agreements on behalf of CPC. Under the terms of the contract, KBR will provide License and Basic Engineering services for the 1.2 MMTPA VCC Unit that will process refinery vacuum residues into high value naphtha and Euro 5 diesel products.
News For KBR From The Last 14 Days
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July 6, 2015
08:12 EDTKBRKBR announces two new strategic business agreements with BCP
KBR announced that it has agreed to enter into two new partnerships with Bernhard Capital Partners, or BCP. The first agreement will establish a new, equally owned and managed company, Brown & Root Industrial Services. KBR's Industrial Services Americas, part of the Engineering & Construction Business Group, will become part of the company and will continue to offer maintenance services, turnarounds and small capital expenditure projects. The company will also comprise of WINK Engineering, a BCP portfolio company specializing in maintenance engineering design services to the refining, chemical/petrochemical, and bulk storage terminal industries. Brown & Root Industrial Services will be headquartered in Baton Rouge, Louisiana. In addition to this partnership, EPIC Piping, a BCP portfolio company, plans to acquire KBR's Canadian pipe fabrication facility. KBR will become a minority limited partner in EPIC Piping and will enter into an alliance agreement that will give KBR access to EPIC's world class pipe fabrication facilities in Louisiana & Texas. KBR expects to receive approximately $32M in net cash proceeds from the two transactions which are expected to close prior to year end.

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