KBR Finalizes Sale of Infrastructure Americas Business to Stantec
HOUSTON, Jan. 4, 2016—KBR, Inc. (NYSE: KBR) KBR announced today that on December 31, 2015 it finalized the sale of its Infrastructure Americas business to Stantec Consulting Services Inc. The sale of Infrastructure Americas, a business within the Non-Strategic Business Group, is consistent with the company’s restructuring plans announced in December 2014.
“We are pleased to continue the business transformation we set out to accomplish last year and selling non-strategic operations such as the Infrastructure America’s business, is an important part of that strategy,” said Stuart Bradie, KBR President and CEO. “This represents another step in our efforts to make KBR more streamlined, customer-focused, and cost effective, so we can deliver on our promises to our customers and shareholders.”
The transaction’s price is $19 million, subject to working capital adjustments, and will be reflected in the fourth quarter 2015 financial results.
About KBR, Inc.
KBR, Inc. is a global technology, engineering, procurement and construction company serving the hydrocarbons and government services industries, employing approximately 25,000 people worldwide with customers in more than 70 countries and operations in 40 countries across three distinct global businesses:
- Technology & Consulting, including proprietary technology in refining, ethylene, ammonia and fertilizers, and gasification; and niche consulting and know-how through subsidiaries Granherne,Energo and GVA
- Engineering & Construction, including Offshore Oil & Gas; Onshore Oil & Gas; LNG/GTL; Refining; Petrochemicals; Chemicals; differentiated EPC, and Industrial Services
- Government Services, including program management and long term annuity contracts
KBR is proud to work with its customers across the globe to provide technology, value-added consulting services, integrated EPC delivery and Long Term Industrial Services to ensure consistent project delivery with predictable results. At KBR, we deliver.