KBR Secures $75 Mln, 5-year Contract From US Department Of Defense

(RTTNews) - KBR, Inc. (KBR), an engineering and construction company, announced on Tuesday that it has secured $75 million recompete task order from the United Stated Department of Defense or DoD for a five-year term.

Under the terms of the contract, the company will address the DoD's critical technology areas of advanced materials, trusted artificial intelligence and autonomy, and renewable energy generation and storage. It will provide research and development for engineering, new product design and development, logistics and reliability improvements, and obsolescence and diminishing sources of manufacturing and supply.

As per the company, by bagging this contract it has strengthened its growth initiative focusing on ground vehicle systems and this represents more than 80 percent growth from the previous task order.

"KBR has been providing mission critical support to the PEO Combat Support & Combat Support Services since 2008. As the Team Behind the Mission, protecting U.S. soldiers and allies is one of KBR's top priorities," the company said in a statement.

On Monday, KBR shares closed at $61.09 up 0.46% on the New York Stock Exchange.