KBR Awarded PLINKE Technologies Contract by Hanwha
HOUSTON, Nov. 18, 2021 /PRNewswire/ -- KBR (NYSE: KBR) announced today it has secured a contract for its PLINKESM nitric acid concentration and spent acid recycling technologies from Hanwha Solutions for its new production facilities at Yeosu, South Korea.
Under the terms of the contract, KBR will provide a license, basic and detailed engineering design, technical services, and proprietary equipment to Hanwha for the production of 160,000 metric tons per year of concentrated nitric acid and treatment and recycling of 240,000 metric tons per year of spent sulfuric acid. Nitric acid and its derivatives are processed for the production of various materials such as flexible polyurethane foams which help manufacturers in the furniture, bedding and automotive sectors to achieve sustainability and energy conservation objectives, or precision chemicals such as those used in the semiconductor industry.
"We are privileged to receive this award from Hanwha, further consolidating our valuable relationship," said Doug Kelly, KBR President, Technology. "This is the fourth Hanwha plant where our energy-efficient PLINKESM technologies will be implemented due to their technological and environmental leadership qualities."
Since 1947, KBR's PLINKESM technologies have been supplied to more than 500 technology references all around the world for inorganic acid treatment, purification, and concentration. PLINKESM technologies support many different industry segments including chemicals and fine chemicals, fertilizers, pharmaceuticals and life sciences, metallurgical, petroleum refining, and other industries.
We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 29,000 people worldwide with customers in more than 80 countries and operations in 40 countries.
KBR is proud to work with its customers across the globe to provide technology, value-added services, and long- term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.
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 significant adverse impacts on economic and market conditions of the COVID-19 pandemic and the company's ability to respond to the resulting challenges and business disruption; the recent dislocation of the global energy market; the company's ability to manage its liquidity; 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; 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; the possibility of cyber and malware attacks; 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 U.S. 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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