KBR to Develop Navy Technical Training Products through $42.5M Task Order

Rhea-AI Summary

KBR has been awarded a $42.5 million task order from the Naval Air Systems Command (NAVAIR) to support the development of technical training products. This recompete task order, under the Department of Defense Information Analysis Center's multiple-award contract, aims to upgrade and modernize training systems. Work will span 60 months and involve collaboration with various military divisions. KBR has a longstanding relationship with NAVAIR, having delivered over $3 billion in solutions since 2005. The project emphasizes KBR's commitment to enhancing military readiness through innovative training solutions.

Positive

• Awarded a $42.5 million task order to support NAVAIR, indicating a strong contract win.
• Long-term project expected to last 60 months, providing stable revenue.
• KBR has a history of over $3 billion in solutions for DoD clients, demonstrating a solid reputation.
• Continued collaboration with multiple military divisions enhances KBR's position in the market.

Negative

• None.

HOUSTON, June 30, 2020 /PRNewswire/ -- KBR (NYSE: KBR) announced today it has been awarded a $42.5 million task order to support technical training product development for the Naval Air Systems Command (NAVAIR).

KBR was awarded this recompete task order under the Department of Defense Information Analysis Center's (DoD IAC) multiple-award contract by the USAF Installation Contracting Center.

As part of this cost-plus-fixed-fee task order, KBR will provide research and analysis to upgrade, modernize, and develop state-of-the-art training products associated with aircraft and other systems. KBR will work with NAVAIR, the Naval Air Warfare Center Aircraft Division (NAWCAD), and the Naval Air Warfare Center Aircraft Training and Simulator Division (NAWCTSD) to support training needs in response to updated requirements and systems.

This work is expected to be performed over 60 months and will include additional technical training and product development support for other government agencies and Foreign Military Sales. KBR will perform the work for this contract primarily in Orange Park and Orlando, Florida and Lexington Park, Maryland.

"I am proud of our KBR team for its hard work and unwavering dedication to meet emergent training requirements that help sustain fleet readiness and ensure the safety of maintainers and operators in the U.S. military," said Byron Bright, President, Government Solutions U.S.

"We look forward to developing training solutions with NAVAIR as we continue to solidify our position as a trusted source of innovative engineering and technical expertise for the Department of Defense," Bright continued.  

KBR has provided technical training product development for NAVAIR for almost a decade and has supported the mission of the DoD research and development community through various predecessor DoD IAC contracts since 2005. KBR is one of DoD IAC's leading prime contractors, having successfully provided over $3 billion in solutions to a variety of DoD customers.

About DoD IAC Program

The DoD IAC program operates as a part of Defense Technical Information Center (DTIC) 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 lifecycle within the Government Solutions and Energy sectors. KBR employs approximately 37,000 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, featuring proprietary technology, equipment, catalysts, digital solutions and related technical services for the monetization of hydrocarbons, including refining, petrochemicals, ammonia and specialty chemicals, as well as inorganics
  
  
• 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

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.

View original content to download multimedia:http://www.prnewswire.com/news-releases/kbr-to-develop-navy-technical-training-products-through-42-5m-task-order-301085479.html

SOURCE KBR, Inc.

FAQ

What is KBR's recent contract award about?

KBR was awarded a $42.5 million task order to develop technical training products for the Naval Air Systems Command.

How long will KBR's training product development project last?

The project will span 60 months.

What is the financial significance of KBR's new task order?

The $42.5 million task order strengthens KBR's revenue and confirms its position as a trusted contractor for the Department of Defense.

Which division of the military is KBR working with?

KBR is collaborating with the Naval Air Systems Command (NAVAIR) and other military divisions.