KBR Awarded Technology Contract for Two Nitric Acid Plant Expansions for Specialty Fertilizers by Haifa Group in Israel

Rhea-AI Summary

KBR has been awarded a contract by Haifa Group to enhance the production capacity of two nitric acid plants in Israel, which is expected to increase capacity by approximately 35% at each facility. The contract includes licensing, basic engineering design, and proprietary equipment. KBR's technology aims to boost agricultural yields while minimizing emissions and operating expenses. This strategic collaboration reflects Haifa's commitment to expand its role in precision agriculture.

Positive

• Awarded a contract for two nitric acid plants in Israel by Haifa Group.
• Expected capacity increase of approximately 35% at each plant.
• KBR's technology has been successfully implemented in 75 plants worldwide.

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• None.

HOUSTON, July 21, 2021 /PRNewswire/ -- KBR (NYSE: KBR) announced today that it has been awarded a nitric acid technology contract by Haifa Group for two of its process plants at Mishor Rotem, Israel.

Under the terms of the contract, KBR will provide license, basic engineering design and proprietary equipment for both plants, to deliver a capacity increase of approximately 35 percent at each plant.

"We are proud to partner with Haifa Group to increase the production capacity of its plants through the use of our proprietary technology and knowhow," said Doug Kelly, KBR President, Technology. "KBR has the industry's leading design for energy-efficient nitric acid production in both mono-pressure and dual-pressure plants, and we look forward to working with Haifa to deliver higher production capacities while lowering plant emissions and operating expenses."

Motti Levin, Haifa Group CEO, said, "This is a strategic initiative that strengthens Haifa's position as a leader in the field of precision agriculture. It will contribute to an increase in agricultural yields while helping maintain an ecological balance. The two nitric acid plants are integral to our expansion plan to double our production capacity in the coming years."

KBR's Weatherly nitric acid technology, combining years of plant experience with cutting-edge technology innovation, has been successfully employed in 75 plants worldwide since the 1950's, including approximately 80% of all U.S. plants.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 29,000 people worldwide with customers in more than 80 countries and operations in 40 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 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 significant adverse impacts on economic and market conditions of the COVID-19 pandemic; the company's ability to respond to the challenges and business disruption presented by the COVID-19 pandemic; the recent dislocation of the global energy market; the company's ability to realize cost savings and efficiencies relating to the streamlining of its Energy Solutions business; the company's ability to manage its liquidity; the company's ability to continue to generate anticipated levels of revenue, profits and cash flow from operations during the COVID-19 pandemic and any resulting economic downturn; 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, including as a result of the COVID-19 pandemic; 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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SOURCE KBR, Inc.

FAQ

What is the significance of KBR's contract with Haifa Group?

KBR's contract with Haifa Group is significant as it involves enhancing nitric acid production capacity by approximately 35% at two plants in Israel, which supports increased agricultural output.

When was KBR awarded the contract for the nitric acid plants?

KBR was awarded the contract on July 21, 2021.

What technology is KBR providing to Haifa Group?

KBR is providing nitric acid technology, including licensing, basic engineering design, and proprietary equipment.

How will the contract impact KBR's business?

The contract is expected to strengthen KBR's market position in energy-efficient nitric acid production and may contribute to revenue growth.

What are the expected benefits of KBR's technology for Haifa Group?

KBR's technology is anticipated to improve production efficiency, reduce emissions, and lower operating expenses for Haifa Group.