Benzinga | Jul 21, 2021 02:17PM EDT

KBR Bags Technology Contract For Two Nitric Acid Plant Expansions

* KBR, Inc. (NYSE:KBR) has been awarded a nitric acid technology contract by Haifa Group for two of its process plants at Mishor Rotem, Israel. The contract size was not disclosed.

* KBR will provide license, basic engineering design, and proprietary equipment for both plants to deliver a capacity increase of ~35% at each plant.

* "KBR has the industry's leading design for energy-efficient nitric acid production in both mono-pressure and dual-pressure plants, and we look forward to working with Haifa to deliver higher production capacities while lowering plant emissions and operating expenses," commented Doug Kelly, KBR President for Technology.

* Price action: KBR shares are trading higher by 0.79% at $39.39 on the last check Wednesday.