HOUSTON, Oct. 31, 2019 /PRNewswire/ -- KBR (NYSE: KBR) announced today it has been awarded a one-year $45 million contract modification by the U.S. Army Contracting Command.
KBR will continue to provide maintenance, supply, transportation and other logistics functions for the U.S. Army Prepositioned Stock-3 Charleston Afloat Program. This hybrid firm fixed price, cost-plus-fixed-fee contract extends work on the original contract until August 2020. This is the fourth option year on the contract, which was originally awarded in August 2015.
Under this contract, KBR will provide Care of Supplies in Storage (COSIS) and integrated logistics support. This support will include inventory management and control, serialization, storage, tactical vehicle maintenance, marking and labeling, and distribution at U. S. Army Field Support Battalion - Charleston in Goose Creek, South Carolina.
KBR will also receive, inventory, and package various supply class stocks for storage. The company will perform maintenance on Army equipment that is prepositioned ashore and COSIS on ships afloat in the Indian and Pacific Oceans.
"This contract extension speaks to KBR's performance and responsiveness supporting the APS-3 program," said Byron Bright, KBR President, Government Services U.S.
"As a leading U.S Army readiness provider, we continue to provide prepositioned stock services and ensure the availability of combat-ready equipment to our forces around the world in support of their mission," he continued.
Exemplifying its commitment to meeting this customer's needs, KBR completed a ship maintenance cycle two months ahead of schedule last year, boosting the Army's readiness to support missions anywhere around the globe.
KBR currently provides similar critical logistics readiness support for the U.S. Army and Marine Corps at U.S. Army Garrison Daegu in South Korea and Marine Corps Support Facility Blount Island in Jacksonville, Florida. The company has been a leader in maintaining offshore military prepositioned stock for over 30 years and has helped ensure U.S. armed forces mission success on land, at sea, and in air and space for over 75 years.
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, 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.
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.
SOURCE KBR, Inc.