KBR, Inc. (KBR) Receives Contract from OJSC Togliattiazot for Ammonia Plant Work

May 26, 2015 7:05 AM EDT

KBR, Inc. (NYSE: KBR) announced that it has been awarded a contract by OJSC Togliattiazot (ToAZ) to provide licensing, basic engineering design, front-end engineering and design services to revamp ToAZ's existing seven ammonia plants in Togliatti, Samara region, Russia.

Under the terms of the contract, KBR will supply ToAZ with its proprietary ammonia technology to significantly increase overall ammonia production capacity while simultaneously increasing energy efficiency and overall reliability of the plants. KBR will use its industry standard-setting technology to cut production costs for ToAZ.

"This contract is a testament to KBR's expertise in the ammonia industry," said John Derbyshire, President Technology & Consulting. "We are pleased to continue our work with ToAZ as it expands its Togliatti manufacturing site. This win is indicative of KBR's strategic commitment to winning the right work."

Considered a world leader in ammonia technology, KBR has been involved in the licensing, design, engineering and/or construction of more than 230 ammonia plants worldwide.

"ToAZ has embarked on an ambitious plan to revamp its ammonia plants in Russia and we are very pleased to enter into a contract with KBR to help us achieve our strategic objectives," said Sergey Makhlay, Chairman, ToAZ.

The contract value was not disclosed. Expected revenue from the contract will be included in KBR's second quarter 2015 backlog of unfilled orders for its Engineering & Construction and Technology & Consulting business lines.

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