KBR, INC. (NYSE:KBR) Files An 8-K Other Events
ITEM 8.01 Other Events.
subsidiaries, “KBR”) announced that it entered into a final and
binding settlement agreement with Pemex Exploration and
Production (“PEP”) resolving the claims brought by its
subsidiary, Commisa, and PEP against each other in 2004 related
to the EPC 1 construction project in Mexico. Under the
settlement, PEP has paid KBR $435 million. The settlement also
provides for mutual dismissals and releases of all claims related
to the EPC 1 project. A copy of the press release announcing the
settlement is attached hereto as Exhibit 99.1.
| 99.1 |
Press Release dated April 10, 2017, titled “KBR Recovers
Almost Half Billion Dollar Judgment, Resolves Lengthy Commercial Dispute.” |
About KBR, INC. (NYSE:KBR)
KBR, Inc. (KBR) is an engineering, procurement, construction and services company. The Company supports global hydrocarbons and international Government services market sectors. It operates through three business segments: Technology & Consulting (T&C), Engineering & Construction (E&C), and Government Services (GS). Its T&C segment combines KBR technologies, knowledge-based services and its three specialty consulting brands, Granherne, Energo and GVA, under a customer-facing global business. Its E&C segment offers project delivery solutions from conceptual planning, through FEED and execution planning, to full EPC delivery and ongoing asset services, such as maintenance and turnarounds. Its GS segment focuses on service contracts with annuity streams particularly for the United Kingdom, Australian and the United States Governments. It provides services to a customer base, including international and national oil and gas companies and petrochemical producers. KBR, INC. (NYSE:KBR) Recent Trading Information
KBR, INC. (NYSE:KBR) closed its last trading session up +0.70 at 15.50 with 1,573,904 shares trading hands.