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KBR Inks Kutch Specialities Contract for Plinke Technology
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KBR, Inc. (KBR - Free Report) has received a contract from Kutch Specialities Pvt Ltd, India for its proprietary Plinke Adiabatic Nitrobenzene technology.
KBR has more than 70 years of experience in inorganics comprising processes and technology solutions for crystallization, evaporation, and concentration and purification of strong inorganic acids.
“This contract reinforces KBR's process leadership in purification, concentration and processing of strong inorganic acids," said Doug Kelly, KBR president, Technology Solutions.
Per the latest contract, KBR will offer basic and detailed engineering design, equipment, and related advisory services to Kutch Specialities for its grassroots nitrobenzene project in India.
Strong Backlog & Contract Wins Bode Well
KBR’s innovative and reliable process technologies have been driving its performance over the last few quarters. Continuous contract wins are a testimony to the fact. As of Mar 31, 2020, KBR’s backlog level was $13.92 billion, up from $13.6 billion a year ago, highlighting its underlying strength.
Recently, KBR won a contract from Shenghong Refining Petrochemical (Lianyungang) Co. Ltd. to provide proprietary catalyst for the latter’s grassroot 300 KTA Vinyl Acetate Monomer unit in China.
In June 2020, KBR announced that its market-leading technology — ROSE solvent de-asphalting process — has won a strategic upgrade project from ANCAP for Uruguay's integrated refinery complex.
Notably, KBR’s Technology Solutions' revenues decreased 4.3% year over year to $88 million in first-quarter 2020 due to higher volumes of proprietary equipment deliveries in 2019. Nonetheless, continuous contract wins like the latest one will help KBR generate higher segment revenues.
Shares of KBR have gained 18.2% over the past three months, almost in line with the industry’s 20.4% rally. Its shares have performed pretty well owing to ongoing contract wins, acquisitions and robust organic growth.
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
Image: Bigstock
KBR Inks Kutch Specialities Contract for Plinke Technology
KBR, Inc. (KBR - Free Report) has received a contract from Kutch Specialities Pvt Ltd, India for its proprietary Plinke Adiabatic Nitrobenzene technology.
KBR has more than 70 years of experience in inorganics comprising processes and technology solutions for crystallization, evaporation, and concentration and purification of strong inorganic acids.
“This contract reinforces KBR's process leadership in purification, concentration and processing of strong inorganic acids," said Doug Kelly, KBR president, Technology Solutions.
Per the latest contract, KBR will offer basic and detailed engineering design, equipment, and related advisory services to Kutch Specialities for its grassroots nitrobenzene project in India.
Strong Backlog & Contract Wins Bode Well
KBR’s innovative and reliable process technologies have been driving its performance over the last few quarters. Continuous contract wins are a testimony to the fact. As of Mar 31, 2020, KBR’s backlog level was $13.92 billion, up from $13.6 billion a year ago, highlighting its underlying strength.
Recently, KBR won a contract from Shenghong Refining Petrochemical (Lianyungang) Co. Ltd. to provide proprietary catalyst for the latter’s grassroot 300 KTA Vinyl Acetate Monomer unit in China.
In June 2020, KBR announced that its market-leading technology — ROSE solvent de-asphalting process — has won a strategic upgrade project from ANCAP for Uruguay's integrated refinery complex.
Notably, KBR’s Technology Solutions' revenues decreased 4.3% year over year to $88 million in first-quarter 2020 due to higher volumes of proprietary equipment deliveries in 2019. Nonetheless, continuous contract wins like the latest one will help KBR generate higher segment revenues.
Shares of KBR have gained 18.2% over the past three months, almost in line with the industry’s 20.4% rally. Its shares have performed pretty well owing to ongoing contract wins, acquisitions and robust organic growth.
KBR — which shares space with Fluor Corporation (FLR - Free Report) ), Jacobs Engineering Group Inc. (J - Free Report) and AECOM (ACM - Free Report) in the same industry — currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>