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