KBR finalises sale of its Infrastructure Americas business
Published by Callum O'Reilly,
Senior Editor
LNG Industry,
KBR Inc. has announced that it finalised the sale of its Infrastructure Americas business to Stantec Consulting Services Inc. on 31 December 2015.
KBR said that the sale of the business, which is within the Non-Strategic Business Group, is consistent with its restructuring plans announced in December 2014.
Stuart Bradie, KBR President and CEO, said: "This represents another step in our efforts to make KBR more streamlined, customer-focused, and cost effective, so we can deliver on our promises to our customers and shareholders."
The transaction's price is US$19 million, subject to working capital adjustments, and will be reflected in the company’s 4Q15 financial results.
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/05012016/kbr-finalises-sale-of-its-infrastructure-americas-business-1833/
You might also like
IEEFA: Tidal wave of new LNG supply to flood market amid demand uncertainty
Sluggish demand growth for LNG, combined with a record increase in global export capacity through 2028, will likely thrust markets into an extended period of oversupply, according to the latest Global LNG Outlook from the Institute for Energy Economics and Financial Analysis.