KBR Awarded Phenol and Acetone Technology Contract by Qingdao Haiwan Chemical
HOUSTON – (July 1, 2019) – KBR (NYSE: KBR) announced today that it has been awarded a contract by Qingdao Haiwan Chemical Co., Ltd. (Haiwan Chemical) to license KBR's leading phenol and acetone technology for a new phenol and acetone plant in Qingdao City, Shandong Province, China.
Under the terms of the contract, KBR will provide the technology license and basic engineering design (LBED) as well as technical and training services to Haiwan Chemical for building a grassroots 320,000 tons per annum phenol/acetone plant in Dongjiakou Industrial Zone, Qingdao, Shandong Province in China.
"We are honored to bring our superior phenol/acetone technology to Haiwan Chemical," said John Derbyshire, President, KBR Technology Solutions. "KBR is committed to working closely with the project team to deliver the next world-class project.”
"KBR's phenol process has been on the leading edge for more than 60 years and KBR is continuously making innovative technical improvements to maintain its competitiveness,” said Mr. Gao Zijian, General Manager of Haiwan Chemical. “I believe this phenol plant will be playing an important role in our corporation’s progress of industrial transformation and upgrading.“
KBR is a global technology licensor, and has offered leading-edge phenol and acetone technology for more than 60 years, and completed more than 50 phenol projects worldwide.
About KBR, Inc.
KBR is a global provider of differentiated professional services and technologies across the asset and program lifecycle within the Government Solutions and Energy sectors. KBR employs approximately 38,000 people worldwide (including our joint ventures), with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses:
- Government Solutions, serving government customers globally, including capabilities that cover the full lifecycle 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 Solutions, 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
- Energy Solutions, 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.
Visit www.kbr.com
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.
For further information, please contact:
Investors
Alison Vasquez
Vice President, Investor Relations
713-753-5082
[email protected]
Media
Brenna Hapes
External Global Communications
713-753-3800
[email protected]
