KBR Inc. has announced that it has finalised partnerships with Bernhard Capital Partners (BCP). KBR is a global engineering, procurement and construction (EPC) company, which, as part of its operations, works in the engineering and construction of both offshore and onshore pipelines for LNG. It has received approximately US$32 million in net proceeds from both agreements.
The first partnership is Brown & Root Industrial Services – a company under which all of KBR’s North American industrial services now operate. The other partnership sees all of KBR’s Canadian pipe fabrication business become Falcon Fabricators and Modular Builders – a subsidiary of EPIC Piping. This will allow KBR access to EPIC’s pipe fabrication facilities in both Louisiana and Texas, US.
Stuart Bradie, the President and CEO of KBR, said: “With this announcement, KBR has achieved another milestone in our implementation of the strategic plan we announced last year to transform our business […] These partnerships further streamline our business so that we can continue to deliver for our customers.”
Edited from press release by David Rowlands
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/12102015/kbr-confirms-partnerships-with-bernhard-capital-partners-1444/