KBR assures no disruptions on U.K. defense project
KBR announced that it expects no disruption to its project being executed through a joint venture with Carillion as a result of Carillion's announced liquidation earlier today. KBR operates a stand-alone Joint Venture with Carillion on Project Allenby Connaught through its Aspire Defence entities, providing high quality design, construction and maintenance services to the British Army for living and working accommodation. The Joint Venture has been successfully performing services for the Ministry of Defence since 2006 and the management and workforce are mature and stable. The company said it has been undergoing contingency planning for the last three months and is well placed to continue operating this contract. Further, it does not expect any disruption to the delivery of services, the performance of the contract or the cash-flow from the contract because of Carillion's liquidation.