KBR Awarded $100m Operational Support Contract for UK Ministry of Defence

Rhea-AI Summary

KBR has been awarded a $100m contract by the UK Ministry of Defence to provide heavy lift movement services for the British Army, including the operation and maintenance of Heavy Equipment Transporters (HET) for the next three years. This contract reinforces KBR's long-standing support for the UK MOD and enhances the logistic movement capabilities of the British Army.

Positive

• KBR's contract award of $100m by the UK Ministry of Defence strengthens its partnership with the UK MOD and showcases its expertise in providing critical operational support to troops and allies.

• KBR's successful 20-year history of providing Heavy Equipment Transporters (HET) support positions it as a reliable and trusted partner for the UK MOD in handling strategic loads, including the British Army's Challenger 2 tanks.

• The inclusion of training and use of Sponsored Army Reservists in the contract demonstrates KBR's commitment to supporting and enhancing the capabilities of the British Army for current and future operations and exercises.

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• None.

HOUSTON, April 30, 2024 /PRNewswire/ -- KBR (NYSE: KBR) announced today that it is extending its support to the UK Ministry of Defence (MOD) with the award of a contract worth more than $100m, with options, to provide unique heavy lift movement services of front-line equipment for the British Army.

Under the terms of the contract, KBR will provide a fleet of Heavy Equipment Transporters (HET), maintainers and operators to enable movement of strategic loads, including the British Army's Challenger 2 tanks.

The Interim Capability Solution (ICS) will be delivered over the next three years, building on KBR's successful 20-year history of HET support. In addition to provision, operation and maintenance of the vehicles, the unique contract includes training and use of Sponsored Army Reservists to support delivery.

Paul Kahn, President, KBR Government Solutions International, said, "KBR is proud to be part of this enduring project, one that allows the UK MOD unique flexibility in providing critical operational support to its troops and allies."

Mike Cooper, Senior Responsible Owner of the Materiel Distribution Land 2025 Programme for the British Army, said, "Placing this contract secures a critical enabling capability for the Army, allowing continued logistic movement of heavy armor and other large equipment for current and future operations and exercises."

KBR is proud of its key role in delivering and supporting UK military capability, working closely with the UK MOD to support, train and provide advanced technology in support of a safer, more secure world.

This award was included in Q1 2024 bookings.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 35,000 people worldwide with customers in more than 80 countries and operations in over 30 countries.

KBR is proud to work with its customers across the globe to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.

Visit www.kbr.com

Forward Looking Statements

The statements in this press release that are not historical statements, including statements regarding contractual performance and options, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties and assumptions, 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, uncertainties and assumptions include, but are not limited to, those set forth in the company'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, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.  Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

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SOURCE KBR, Inc.

FAQ

What is the contract amount awarded to KBR by the UK Ministry of Defence?

KBR has been awarded a contract worth more than $100m by the UK Ministry of Defence.

What services will KBR provide under the contract with the UK Ministry of Defence?

KBR will provide heavy lift movement services, including the operation and maintenance of Heavy Equipment Transporters (HET) for the British Army.

Who is the President of KBR Government Solutions International?

Paul Kahn is the President of KBR Government Solutions International.

Who is the Senior Responsible Owner of the Materiel Distribution Land 2025 Programme for the British Army?

Mike Cooper is the Senior Responsible Owner of the Materiel Distribution Land 2025 Programme for the British Army.

What was the inclusion of the contract award in?

The contract award was included in Q1 2024 bookings.