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KBR Awarded $232 Mln. ADA-ES Activated Carbon Plant Construction Contract - Update

Wednesday, engineering services company KBR Inc. (KBR) said a division of its Services Business Unit, BE&K, has been awarded a $232 million contract by ADA-ES Inc. (ADES) for the construction of its Red River Activated Carbon Plant in Louisiana.

The contract requires BE&K provide full engineering, procurement and construction (EPC) services for ADA-ES' new plant. The work on the project is expected to begin immediately.

The Houston, Texas-based company noted that the development marked the third major contract award for KBR Services since its acquisition of BE&K in July 2008. KBR expects to showcase its expertise in the reduction of air emissions from coal fired power plants in the project.

KBR ended Wednesday's regular trading at $17.94, up 0.84% or $0.15, on a volume of 6.72 million shares on the NYSE. ADES gained 10.87% or $0.87 to end the day's regular trade at $8.87, on a volume of 16.5 thousand shares on the Nasdaq.

by RTT Staff Writer

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