KBR Joint Venture Signs Contract for Australia's New Naval Shipbuilding College

HOUSTON, April 3, 2018 /PRNewswire/ -- KBR, Inc. (NYSE: KBR) announced today that its joint venture company, NSI (Aust) Pty Ltd (NSI), established between Kellogg Brown & Root Pty Ltd (KBR) and Huntington Ingalls Industries Australia Pty Ltd (HII), has been selected by the Australian Government to establish and manage Australia's Naval Shipbuilding College (NSC). 

The Naval Shipbuilding College is a unique organization with one national purpose, "To ensure the required workforce is equipped with the right skills at the right time to implement the government's ambitious naval shipbuilding program," said Australia's Minister for Defence Industry, the Hon Christopher Pyne MP, when he announced the request for proposal in 2017.

NSI has been established for the express purpose of implementing and executing the Naval Shipbuilding College.  KBR and HII as joint venture partners, offer a unique and highly complementary combination of attributes and industry workforce training experience that are essential to the NSC's successful delivery of the right workforce with the right skills for the Naval Shipbuilding Program.   

To complement KBR's and HII's industry and shipbuilding workforce development experience and expertise, NSI has assembled from across Australia, a strong team from organizations in the education, training, academic and business sectors. These organizations include the Australian Maritime College in Launceston, vocational education and training providers in Adelaide and Fremantle, as well as AiGroup, Manpower Group, PwC, Defence Teaming Centre and the Defence Industry Educational Skills Consortium. All team members have extensive national experience across Australia. The NSI team will leverage existing Australian capabilities to efficiently deliver the world-class workforce services for the NSC.

"We are delighted to expand our relationship with the Australian Navy and to be working with HII on the NSC contract," said Stuart Bradie, KBR President and CEO.  "Our two companies represent the very best of international industry, Australian industry and workforce enablement."  

"We believe we have a strong proposition, with unsurpassed and highly relevant technical training, engineering and commercial expertise with a proven ability to transition into, and deliver against, the Australian Government's Naval Shipbuilding Plan workforce requirements," Bradie continued.

Estimated revenue associated with this project will be booked into backlog of unfilled orders for KBR's Government Services Business Segment.

About KBR, Inc.

KBR is a global provider of differentiated professional services and technologies across the asset and program life cycle within the Government Services and Hydrocarbons sectors. KBR employs approximately 34,000 people worldwide (including our joint ventures), with customers in more than 75 countries, and operations in 40 countries, across three synergistic global businesses:

• Government Services, serving government customers globally, including capabilities that cover the full life-cycle of defense, space, aviation and other government programs and missions from research and development, through systems engineering, test and evaluation, program management, to operations, maintenance, and field logistics
• Technology & Consulting, including proprietary technology focused on the monetization of hydrocarbons (especially natural gas and natural gas liquids) in ethylene and petrochemicals; ammonia, nitric acid and fertilizers; oil refining; gasification; oil and gas consulting; integrity management; naval architecture and proprietary hulls; and downstream consulting
• Engineering & Construction, including onshore oil and gas; LNG (liquefaction and regasification)/GTL; oil refining; petrochemicals; chemicals; fertilizers; differentiated EPC; maintenance services (Brown & Root Industrial Services); offshore oil and gas (shallow-water, deep-water, subsea); floating solutions (FPU, FPSO, FLNG & FSRU) and program management.

KBR is proud to work with its customers across the globe to provide technology, value-added services, integrated EPC delivery and long term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver. Visit www.kbr.com

Forward Looking Statement

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company's indemnities from its former parent; changes in capital spending by the company's customers; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

KBR's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other Securities and Exchange Commission filings discuss some of the important risk factors that KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

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SOURCE KBR, Inc.