KBR Inc. has reached an agreed to sell its Infrastructure Americas division to Stantec for US$19 million. The sale is consistent with the company's restructuring plans announced in December 2014.
Stuart Bradie, KBR President and CEO, said: "We are pleased to continue the business transformation we set out to accomplish last year and selling the Infrastructure Americas division is an important part of that strategy […] 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."
It is expected that the deal will be closed in December of 2015.
Edited from press release by Callum O'Reilly