KBR to Provide Engineering & Technical Services for NATO Allies Patriot System

Rhea-AI Summary

KBR (NYSE: KBR) has been awarded a contract by the NATO Support and Procurement Agency (NSPA) for analytical, engineering, technical, and logistics services for the PATRIOT missile system, a key defense asset used by NATO countries. This three-year contract includes options for two additional years and will be executed primarily from Huntsville, Alabama, as well as various global locations. KBR has over 40 years of experience supporting the PATRIOT system and aims to leverage its expertise to assist NSPA in addressing modern defense challenges.

Positive

• Awarded a significant contract from NSPA to support the PATRIOT missile system.
• Three-year contract with two additional option years enhances long-term revenue potential.
• KBR has over 40 years of experience with the PATRIOT system, ensuring reliability.

Negative

• None.

HOUSTON, June 21, 2021 /PRNewswire/ -- KBR (NYSE: KBR) was awarded a contract from the NATO Support and Procurement Agency (NSPA) to provide analytical, engineering, technical, programmatic and logistics services for the PATRIOT missile system. The PATRIOT is an advanced surface-to-air guided air and missile defense system used by several NATO countries around the globe. 

"We have a long history supporting NSPA and we're proud to continue this trusted relationship," said Byron Bright, KBR Government Solutions President. "KBR's expertise in cutting-edge research will assist NSPA in responding to today's dynamic threat environment in multiple theaters worldwide." 

Under the Technical, Analytical and Logistics Support Service contract, KBR's work will include systems engineering; program management; modeling and simulation; product assurance; configuration management; production, quality, logistics and deployment; hardware and software integration; field surveillance; and test and evaluation. KBR will also conduct studies, engineering evaluations and investigations as requested by NSPA.

KBR will primarily carry out its duties at company facilities in Huntsville, Alabama as well as at U.S. government deployment locations worldwide. This contract has a three-year base period and two option years.

KBR has provided advisory and assistance services related to research and development, production, deployment, and sustainment for the PATRIOT Air and Missile Defense System for more than 40 years. KBR's systems engineering expertise provides comprehensive analysis in all system functional areas including surveillance; tracking; classification, discrimination, and identification; missile guidance; fire control; battle management; communications; defense planning; and interoperability.

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  

About NSPA

The NATO Support and Procurement Agency (NSPA) brings together, in a single organization, acquisition, logistic, medical and infrastructural capabilities. As NATO's primary enabler, the Agency's mission is to provide effective and cost efficient multinational solutions to the Alliance, its thirty Nations and Partners. Headquartered in Luxembourg, NSPA is a customer-funded agency, operating on a "no profit - no loss" basis. The business activity has grown nearly fourfold in the last decade, reaching an annual business volume of €4 billion.

Visit www.nspa.nato.int

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 contract did KBR receive on June 21, 2021?

KBR was awarded a contract by the NATO Support and Procurement Agency for services related to the PATRIOT missile system.

How long is KBR's contract with NSPA?

The contract has a three-year base period with two additional option years.

Where will KBR primarily carry out its contract duties?

KBR will primarily operate from facilities in Huntsville, Alabama and at various U.S. government deployment locations worldwide.

What services will KBR provide under the NSPA contract?

KBR will deliver analytical, engineering, technical, programmatic, and logistics services for the PATRIOT missile system.

What is the significance of the PATRIOT missile system?

The PATRIOT missile system is an advanced air and missile defense system used by several NATO countries.