Full Description

KBR, Inc. (KBR), incorporated on March 21, 2006, is an engineering, construction and services company supporting the energy, petrochemicals, government services, industrial and civil infrastructure sectors. The Company provides a range of services through six business units: Government and Infrastructure (G&I), Upstream, Services, Downstream, Technology and Ventures. KBR provide services to a diverse customer base, including international and national oil and gas companies, independent refiners, petrochemical producers, fertilizer producers, and domestic and foreign governments. In April 2008, the Company acquired Turnaround Group of Texas, Inc. (TGI) and Catalyst Interactive. TGI is a Houston-based management and consulting company. Catalyst Interactive is an Australian e-learning and training solution provider that specializes in the defense, government and industry training sectors. In July 2008, the Company acquired BE&K, Inc., an engineering, construction and maintenance services company. In October 2008, the Company acquired Wabi Development Corporation.

Downstream

The Company’s Downstream business unit serves clients in the petrochemical, refining, coal gasification and syngas markets, executing projects worldwide. Downstream’s work with KBR’s Ventures business unit has resulted in equity participation structures, such as its Egypt Basic Industries Corporation Ammonia plant, which offers its customers various solutions to meet their project development needs. The Company is a contractor in the markets that it serves delivering projects through a variety of service offerings, including front end engineering design (FEED), detailed engineering, engineering procurement construction (EPC), engineering, procurement, construction management (EPCM) and program management.

Government and Infrastructure

The Company G&I business unit provides program and project management, contingency logistics, operations and maintenance, construction management, engineering and other services to military and civilian branches of governments and private clients worldwide. It delivers on-demand support services across the military mission cycle from contingency logistics and field support to operations and maintenance on military bases. A significant portion of its G&I business unit’s operations relate to the support of the United States government operations in the Middle East, which the Company refers to as its Middle East operations. In the civil infrastructure market, KBR operates in sectors, including transportation, waste and water treatment and facilities maintenance. It designs, constructs, maintains, and operates and manages civil infrastructure projects ranging from airport, rail, highway, water and wastewater facilities, and mining and mineral processing to regional development programs and major events. The Company provides many of these services to foreign governments, such as the United Kingdom and Australia.

Services

The Company’s Services business unit provides construction, construction management, fabrication, maintenance, and turnaround services to customers worldwide. With the acquisition of BE&K, the Company provides engineering, as well as construction and maintenance services to address power, alternate energy, pulp and paper, industrial and manufacturing, and pharmaceutical industries in addition to its markets in the oil, gas, petrochemicals and hydrocarbon processing industries. The Company also provides construction related services to education, food and beverage, healthcare, hospitality and entertainment, life science and technology, and mixed use building customers through its Building Group. The Company also provides offshore maintenance and construction services to oil and gas facilities using semisubmersible vessels in the Bay of Campeche through a jointly held venture.

Technology

The Company’s Technology business unit offers process technologies, including value-added technologies in the coal monetization, petrochemical, refining and syngas markets. The Company offers technology licenses, and, in conjunction with its Downstream business unit, offers project management and engineering, procurement and construction for integrated solutions worldwide.

Upstream

KBR’s Upstream business unit provides a range of services for large, complex upstream projects, including liquefied natural gas (LNG), gas-to-liquids (GTL), onshore oil and gas production facilities, offshore oil and gas production facilities, including platforms, floating production and subsea facilities, and onshore and offshore pipelines. In gas-to-liquids, the Company’s two gas-to-liquids projects are under construction or start-up. Its Upstream business unit has designed and constructed some of the onshore facility and pipeline projects. In oil & gas, it provides integrated engineering and program management solutions for offshore production facilities and subsea developments, including the design of the floating production facility.

Ventures

KBR’s Ventures business unit invests and manages KBR equity in certain projects, where the Company’s other business units provide engineering, procurement, construction, and/or operations and maintenance services. Project equity investments include defense equipment and housing, toll roads and petrochemicals.