HOUSTON – (July 12, 2018) – KBR, Inc. (NYSE: KBR) announced today that its global government services business, KBRwyle, has been awarded a $41.7 million task order to assist the U.S. Air Force Institute of Technology Graduate School of Engineering and Management (AFIT/EN) in providing defense-focused graduate and professional continuing education and research.
KBRwyle will study, analyze, provide advice, and develop materials to advance scientific and technical information. KBRwyle's efforts will contribute to AFIT's multidisciplinary strategy to address emerging technical challenges facing America and its allies.
Specifically, KBRwyle will conduct graduate-level research, engineering and technical analyses, and technical evaluations and assessments for faculty and staff. KBRwyle will dissect and study the design, development, and testing of military and commercial research and development efforts, including military-critical technologies in their earliest stages of discovery.
This work will be primarily performed at Wright Patterson Air Force Base in Ohio, as well as other locations around the world. The task order award period is 50 months.
"This new task order gives KBRwyle the opportunity to expand our support of the U.S. Air Force Institute of Technology," said Byron Bright, President, KBR Government Services U.S. "We will continue to work with AFIT in providing education and research to ensure the Air Force has the most advanced technology to defend our nation."
Through partnered efforts, KBRwyle has assisted AFIT in conducting militarily-relevant research, delivering analytic tools to DoD organizations, and producing defense-related publications on the latest technological advances and how they can be used to enhance national security for over eight years.
The Air Force awarded this cost-plus-fixed-fee task order under the DoD's Information Analysis Center's (IAC) Defense Systems Technical Area Task (DSTAT) multi-award contract. KBRwyle won a seat on the DSTAT contract in June 2014.
Estimated revenue associated with this contract award will be booked into the backlog of unfilled orders for KBR's Government Services business segment.
About DoD IAC Program
The DoD IAC program operates as a part of Defense Technical Information Center and provides technical data management and research support for DoD and federal government users. Established in the 1940s, the IAC program serves the DoD science & technology (S&T) and acquisition communities to drive innovation and technological developments by enhancing collaboration through integrated scientific and technical information development and dissemination for the DoD and broader S&T community.
About KBR, Inc.
KBR is a global provider of differentiated professional services and technologies across the asset and program life cycle within the Government Services and Hydrocarbons sectors. KBR employs approximately 34,000 people worldwide (including our joint ventures), with customers in more than 75 countries, and operations in 40 countries, across three synergistic global businesses:
- Government Services, serving government customers globally, including capabilities that cover the full life-cycle of defense, space, aviation and other government programs and missions from research and development, through systems engineering, test and evaluation, program management, to operations, maintenance, and field logistics
- Technology, including proprietary technology focused on the monetization of hydrocarbons (especially natural gas and natural gas liquids) in ethylene and petrochemicals; ammonia, nitric acid and fertilizers; oil refining and gasification
- Hydrocarbons Services, including onshore oil and gas; LNG (liquefaction and regasification)/GTL; oil refining; petrochemicals; chemicals; fertilizers; differentiated EPC; maintenance services (Brown & Root Industrial Services); offshore oil and gas (shallow-water, deep-water, subsea); floating solutions (FPU, FPSO, FLNG & FSRU); program management and consulting services
KBR is proud to work with its customers across the globe to provide technology, value-added services, integrated EPC delivery and long term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.
Forward Looking Statement
The statements in this press release that are not historical statements, including statements regarding future financial performance, 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, any subsequent Form 10-Qs and 8-Ks, and other U.S. 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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