KBR, Inc. (formerly Kellogg Brown & Root) NYSE: KBR is an American engineering, construction and private military contracting company, formerly a subsidiary of Halliburton, headquartered in Houston. The company also has large offices in Arlington, Birmingham and Leatherhead, UK. After Halliburton acquired Dresser Industries in 1998, Dresser's engineering subsidiary, The M. W. Kellogg Co., was merged with Halliburton's construction subsidiary, Brown & Root, to form Kellogg Brown & Root. KBR and its predecessors have won many contracts with the U.S. military, including during World War II, Vietnam War and Operation Iraqi Freedom.
KBR is the largest non-union construction company in the United States.[1] The company's corporate offices are in the KBR Tower in Downtown Houston.
KBR, Inc. (KBR), incorporated on March 21, 2006, is a global engineering, construction and services company supporting the energy, petrochemicals, government services, industrial and civil infrastructure sectors. KBR operates in four segments: Hydrocarbons, Infrastructure, Government and Power (IGP), Services and Other segments. The Company operates along with its subsidiaries. The Company conducts its business in over 65 countries. On April 5, 2010, it acquired 100% interest in Houston-based Energo Engineering (Energo). In December 2010, the Company acquired Chicago-based Roberts & Schaefer Company. On December 21, 2010, KBR completed the acquisition of 100% of the outstanding common shares of ENI Holdings, Inc. (ENI). On December 31, 2010, it obtained control of the remaining 44.94% interest in its M.W. Kellogg Limited (MWKL). In January 2010, it entered into a collaboration agreement with BP p.l.c. to market and license certain technology, in which KBR acquired a 25-year license.
Hydrocarbons
KBR’s Hydrocarbons business segment serves the Hydrocarbon industry by providing services ranging from prefeasibility studies to design and construction to commissioning of process facilities in remote locations worldwide. The Company is engaged in hydrocarbon processing, which includes constructing liquefied natural gas (LNG) plants in various countries. It also provides solutions for projects in the oil and gas, olefins, refining, petrochemical, biofuels and carbon capture markets. The Hydrocarbons business segment consists of the Gas Monetization, Oil and Gas, Downstream and Technology business units.
The Company’s Gas Monetization business unit designs and constructs facilities to monetize natural gas resources. It creates LNG and gas-to-liquids (GTL) facilities that allow for the development and transportation of resources worldwide. In addition, it contributes in gas processing development, equipment design and construction methods. It’s Oil and Gas business unit delivers onshore and offshore oil and natural gas production facilities, which include platforms, floating production and subsea facilities, and pipelines. The Company also implements the infrastructure needed to make intricate projects feasible by managing projects ranging from deepwater through landfalls, to onshore environments, in remote desert regions, tropical rain forests, and river crossings.
KBR’s Downstream business unit serves clients in the petrochemical, refining, chemicals, biofuels and syngas markets worldwide. It also executes projects and complexes using non-KBR technologies. The Company’s Technology business unit offers process technologies for the coal monetization, petrochemical, refining and syngas markets. In addition to offering technology licenses, it partners with the Company’s Downstream business unit on project management and engineering, procurement and construction (EPC) projects to provide fully integrated solutions worldwide.
Infrastructure, Government and Power
KBR’s IGP business segment serves the infrastructure, government and power industries delivering solutions to commercial, defense and governmental agencies worldwide, providing base operations, facilities management, border security, EPC services, and logistics support. It also delivers project management support and services for a range of initiatives. The Company provides project management for the airfield design and construction program, runway expansion and widening, bridges, new cargo infrastructure and drainage improvements. For the industrial manufacturing market, KBR provides a range of EPC services to a range of heavy industrial and advanced manufacturing markets.
The IGP business segment includes the North American Government and Defense (NAGD), International Government and Defence (IGD), Infrastructure and Minerals (I&M) and the Power and Industrial (P&I) business units. Its NAGD business unit offers operations, maintenance, and logistics support in both contingency and sustainment environments, as well as construction and design or build services to the United States Department of Defense (DOD) and other federal government agencies. Its IGD business unit supports armed forces and government departments worldwide by providing logistics and field support, operations and maintenance of camps and bases, program and project management, construction management, training, visualization software, and engineering and support services. It provides services to government departments, including the United Kingdom, Europe, Middle East and Australia.
KBR’s I&M business unit provides engineering, construction and project management services worldwide on infrastructure projects. The Company’s I&M business unit focuses on four markets, which include mining and minerals; transport (aviation, ports, rail and roads); water, and facilities, including buildings and pipelines. Its P&I business unit provides EPC services for the industrial and power markets worldwide. Within the Industrial product line, it primarily serves clients in the forest products, manufacturing, technology, life sciences, consumer products, metals and materials sectors. Within the Power product line, KBR delivers fossil fuel and renewable power generation projects, plant re-powering projects and emissions control projects for customers that include regulated utilities, power co-operatives, municipalities, independent power producers and industrial cogeneration providers.
Services
The Company’s Services segment delivers construction, construction management, fabrication, operations/maintenance, commissioning/startup and turnaround expertise worldwide to a range of markets, including oil and gas, petrochemicals and hydrocarbon processing, oil sands, mining, power, alternate energy, pulp and paper, industrial and manufacturing, and consumer product industries. Services are organized around four product lines: U.S. Construction, Industrial Services, Building Group and Canada Operations. Its U.S. Construction product line delivers direct hire construction and construction management for stand-alone construction projects to a range of markets and works closely with the hydrocarbons group and power and industrial business units to provide construction execution support on all domestic EPC projects.
KBR’s Industrial Services product line is a diversified maintenance organization operating worldwide providing maintenance, on-call construction, and turnaround and specialty services to a range of markets. Its Building Group product line provides commercial general contractor-related services to education, food and beverage, health care, hospitality and entertainment, life science and technology and mixed-use building clients. KBR’s Canada Operations product line is a diversified construction and fabrication operation providing direct hire construction, construction management, module assembly, fabrication and maintenance services to its Canadian customers. This product line serves a number of markets, including oil and gas customers operating in the oil sands, pulp and paper, mining and industrial markets.
Other
The Company’s Other segment includes the Ventures business unit and other operations. The Ventures business unit invests KBR equity alongside clients’ equity in projects where one or more of KBR’s other business units has a direct role in technology supply, engineering, construction, construction management or operations and maintenance. Project equity investments under current management include defense equipment and housing, toll roads and petrochemicals.
The Company competes with AMEC, Bechtel Corporation, CH2M Hill Companies Ltd., Chicago Bridge and Iron Co., N.V., Chiyoda, DynCorp, Fluor Corporation, Foster Wheeler Ltd., Jacobs Engineering Group, Inc., JGC Corp, John Wood Group PLC, McDermott International, Petrofac PLC, Saipem S.PA., Shaw Group, Inc., Technip, URS Corporation and Worley Parsons Ltd.
After strengthening its position in Eastern Europe in 1993 by forming Brown & Root Skoda in the Czech Republic through a joint venture, the company entered the mid-1990s intent on increasing its operations in the region, where opportunities in oil and gas development abounded. The company's future called for Brown & Root personnel to engage in large-scale, sophisticated construction and engineering projects across the globe. As Brown & Root moved toward this future, its remarkable rise from a small company boasting no more than mortgaged mules and wagons to one of the largest construction and engineering concerns in the world instilled confidence that the years ahead would represent a continuation of its storied past.
Problems Arise in the Late 1990s and Beyond
The years leading into the late 1990s and beyond, however, proved to be perhaps the biggest test of the company's resolve as it was catapulted into the public spotlight due to its relationship with Halliburton. Brown & Root's parent had been growing significantly over the past several years through a series of acquisitions made under the leadership of Dick Cheney, who was named chairman, CEO, and president of Halliburton in 1995. He had served as U.S. Secretary of Defense under President George H.W. Bush and would eventually leave Halliburton in 2000 to join running mate George W. Bush on the Republican ticket in the upcoming presidential election. During his tenure at Halliburton, Cheney orchestrated a number of deals, including a multi-billion dollar merger with Dresser Industries Inc., the parent company of M.W. Kellogg Company. Founded in 1900, Kellogg was acquired by Dresser in 1988 and since that time had made a name for itself in the construction of petroleum and petrochemical facilities. The Halliburton/Dresser union brought Kellogg and Brown & Root together in 1998, forming Kellogg Brown & Root (KBR).
The new KBR proved an instant success, shoring up a host of contract agreements worth billions, including a $1.5 billion contract to expand Malaysia's Bintulu liquefied natural gas complex. While the company remained focused on expanding its business, its parent company began to experience a host of problems related to asbestos claims and investigations into its accounting practices.
Overall, Halliburton had been involved in asbestos-related litigation for years--since 1976 there had been 474,500 claims against the firm for its use of asbestos in certain products. During 2001 and 2002 however, the company faced an onslaught of new claims. Halliburton finally put the litigation to rest in 2002 by agreeing to pay approximately $4.2 billion to settle all outstanding claims. That same year, the Securities and Exchange Commission (SEC) began an investigation into Halliburton's accounting practices. During 1998, when Cheney was in office, the company changed how it booked revenue related to cost overruns on billion-dollar contracts. While the change itself was legal, the firm neglected to report it to shareholders and the SEC for over a year. By making the change, Halliburton was able to meet earnings expectations for 1998--the year of the Dresser merger. Without it, earnings would have fallen short. The SEC began its investigation in May, forcing Halliburton to hand over nearly 200,000 accounting documents to prove that it had not inflated cost overrun claims. The investigation came to a close and Halliburton eventually settled the case with shareholders for $6 million.
As a result of losses brought on by industry conditions and litigation, Halliburton restructured itself in 2002. The company realigned its businesses into two major groups--Halliburton Energy Services Group and KBR, the engineering and construction group. As part of its asbestos settlement, Halliburton placed KBR under bankruptcy protection in 2003. The filing did not include KBR's military and government services business.
While Halliburton struggled under a mountain of negative publicity, KBR also came under fire for its military services role in Iraq. A 2003 Business Week article reported, "The company's high-profile success in winning contracts, coupled with its intimate ties to the White House, has aroused suspicions that it is a beneficiary of political favoritism." Acting as a private military company (PMC), KBR had billed the U.S. government approximately $950 million by 2003 for contracts related to the invasions of Iraq and Afghanistan. The cap on those contracts was set at $8.2 billion. Most of its military-related work came under the Logistics Civil Augmentation Program, or LOGCAP, contract secured in 2001.
A separate contract--capped at $7 billion--was drawn up for KBR in late 2002. As part of the deal, KBR created a contingency plan to handle the possible burning of Iraq's oil fields during a U.S. invasion. KBR was awarded the contract without a bidding process which resulted in outcries of political favoritism that led to an investigation by the General Accounting Office of the U.S. Congress. To make matters worse, Halliburton and its KBR unit, along with other PMCs working in Iraq, were facing criticism from Pentagon officials as well as the Justice Department by early 2004 for quality of work issues and billing and pricing matters. While KBR would no doubt continue to play a significant role supporting the U.S. military, it faced a long and perhaps bumpy road ahead in the years to come.
Principal Competitors: Bechtel Group Inc.; Stolt Offshore S.A.; Technip.
OVERALL
Beta: 1.10
Market Cap (Mil.): $5,674.12
Shares Outstanding (Mil.): 151.55
Annual Dividend: 0.20
Yield (%): 0.53
FINANCIALS
KBR Industry Sector
P/E (TTM): 15.07 40.40 16.98
EPS (TTM): 54.42 -- --
ROI: 14.29 1.11 3.28
ROE: 16.42 1.60 5.91
Statistics:
Wholly Owned Subsidiary of Halliburton Company
Incorporated: 1929 as Brown & Root, Inc.
Employees: 64,000
Sales: $9.27 billion (2003)
NAIC: 541330 Engineering Services; 23493 Industrial Nonbuilding Structure Construction; 23499 All Other Heavy Construction
Key Dates:
1919: Herman Brown starts a road building company named Brown & Root with start-up money from Dan Root.
1929: Root dies; brothers Herman and George Brown incorporate as Brown & Root Inc.
1941: The U.S. Navy begins contracting with the firm.
1961: The company becomes the architect-engineer for NASA's Manned Spacecraft Center.
1962: Halliburton Company acquires Brown & Root.
1998: M.W. Kellogg Company merges with Brown & Root to form Kellogg Brown & Root (KBR).
2002: Halliburton forms two distinct business groups with KBR overseeing its engineering and construction business.
2003: Halliburton places KBR into bankruptcy as a result of a $4 billion asbestos settlement.
Name Age Since Current Position
Utt, William 54 2007 Chairman of the Board, President, Chief Executive Officer
Carter, Susan 52 2010 Chief Financial Officer, Executive Vice President
Calton, Dennis 2011 President - KBR Oil & Gas
Zimmerman, David 57 2007 President - Services
Williams, Mark 53 2010 Group President - Infrastructure, Government and Power Business Unit
Oelking, Roy 58 2011 Group President, Hydrocarbons
Derbyshire, John 2011 President - Technology Business Unit
Farley, Andrew 47 2006 Executive Vice President, General Counsel
Rose, John 65 2011 Executive Vice President - Operations
Brace, Klaudia 54 2010 Executive Vice President - Administration
Baldwin, Dennis 50 2010 Vice President, Chief Accounting Officer
Blount, W. Frank 72 Lead Independent Director
Curtiss, Jeffrey 62 2006 Independent Director
Slater, Richard 64 2006 Independent Director
Carroll, Loren 67 2007 Independent Director
Huff, John 65 2007 Independent Director
Lyles, Lester 64 2007 Independent Director
Address:
601 Jefferson Street
Houston, Texas 77002
U.S.A.
KBR is the largest non-union construction company in the United States.[1] The company's corporate offices are in the KBR Tower in Downtown Houston.
KBR, Inc. (KBR), incorporated on March 21, 2006, is a global engineering, construction and services company supporting the energy, petrochemicals, government services, industrial and civil infrastructure sectors. KBR operates in four segments: Hydrocarbons, Infrastructure, Government and Power (IGP), Services and Other segments. The Company operates along with its subsidiaries. The Company conducts its business in over 65 countries. On April 5, 2010, it acquired 100% interest in Houston-based Energo Engineering (Energo). In December 2010, the Company acquired Chicago-based Roberts & Schaefer Company. On December 21, 2010, KBR completed the acquisition of 100% of the outstanding common shares of ENI Holdings, Inc. (ENI). On December 31, 2010, it obtained control of the remaining 44.94% interest in its M.W. Kellogg Limited (MWKL). In January 2010, it entered into a collaboration agreement with BP p.l.c. to market and license certain technology, in which KBR acquired a 25-year license.
Hydrocarbons
KBR’s Hydrocarbons business segment serves the Hydrocarbon industry by providing services ranging from prefeasibility studies to design and construction to commissioning of process facilities in remote locations worldwide. The Company is engaged in hydrocarbon processing, which includes constructing liquefied natural gas (LNG) plants in various countries. It also provides solutions for projects in the oil and gas, olefins, refining, petrochemical, biofuels and carbon capture markets. The Hydrocarbons business segment consists of the Gas Monetization, Oil and Gas, Downstream and Technology business units.
The Company’s Gas Monetization business unit designs and constructs facilities to monetize natural gas resources. It creates LNG and gas-to-liquids (GTL) facilities that allow for the development and transportation of resources worldwide. In addition, it contributes in gas processing development, equipment design and construction methods. It’s Oil and Gas business unit delivers onshore and offshore oil and natural gas production facilities, which include platforms, floating production and subsea facilities, and pipelines. The Company also implements the infrastructure needed to make intricate projects feasible by managing projects ranging from deepwater through landfalls, to onshore environments, in remote desert regions, tropical rain forests, and river crossings.
KBR’s Downstream business unit serves clients in the petrochemical, refining, chemicals, biofuels and syngas markets worldwide. It also executes projects and complexes using non-KBR technologies. The Company’s Technology business unit offers process technologies for the coal monetization, petrochemical, refining and syngas markets. In addition to offering technology licenses, it partners with the Company’s Downstream business unit on project management and engineering, procurement and construction (EPC) projects to provide fully integrated solutions worldwide.
Infrastructure, Government and Power
KBR’s IGP business segment serves the infrastructure, government and power industries delivering solutions to commercial, defense and governmental agencies worldwide, providing base operations, facilities management, border security, EPC services, and logistics support. It also delivers project management support and services for a range of initiatives. The Company provides project management for the airfield design and construction program, runway expansion and widening, bridges, new cargo infrastructure and drainage improvements. For the industrial manufacturing market, KBR provides a range of EPC services to a range of heavy industrial and advanced manufacturing markets.
The IGP business segment includes the North American Government and Defense (NAGD), International Government and Defence (IGD), Infrastructure and Minerals (I&M) and the Power and Industrial (P&I) business units. Its NAGD business unit offers operations, maintenance, and logistics support in both contingency and sustainment environments, as well as construction and design or build services to the United States Department of Defense (DOD) and other federal government agencies. Its IGD business unit supports armed forces and government departments worldwide by providing logistics and field support, operations and maintenance of camps and bases, program and project management, construction management, training, visualization software, and engineering and support services. It provides services to government departments, including the United Kingdom, Europe, Middle East and Australia.
KBR’s I&M business unit provides engineering, construction and project management services worldwide on infrastructure projects. The Company’s I&M business unit focuses on four markets, which include mining and minerals; transport (aviation, ports, rail and roads); water, and facilities, including buildings and pipelines. Its P&I business unit provides EPC services for the industrial and power markets worldwide. Within the Industrial product line, it primarily serves clients in the forest products, manufacturing, technology, life sciences, consumer products, metals and materials sectors. Within the Power product line, KBR delivers fossil fuel and renewable power generation projects, plant re-powering projects and emissions control projects for customers that include regulated utilities, power co-operatives, municipalities, independent power producers and industrial cogeneration providers.
Services
The Company’s Services segment delivers construction, construction management, fabrication, operations/maintenance, commissioning/startup and turnaround expertise worldwide to a range of markets, including oil and gas, petrochemicals and hydrocarbon processing, oil sands, mining, power, alternate energy, pulp and paper, industrial and manufacturing, and consumer product industries. Services are organized around four product lines: U.S. Construction, Industrial Services, Building Group and Canada Operations. Its U.S. Construction product line delivers direct hire construction and construction management for stand-alone construction projects to a range of markets and works closely with the hydrocarbons group and power and industrial business units to provide construction execution support on all domestic EPC projects.
KBR’s Industrial Services product line is a diversified maintenance organization operating worldwide providing maintenance, on-call construction, and turnaround and specialty services to a range of markets. Its Building Group product line provides commercial general contractor-related services to education, food and beverage, health care, hospitality and entertainment, life science and technology and mixed-use building clients. KBR’s Canada Operations product line is a diversified construction and fabrication operation providing direct hire construction, construction management, module assembly, fabrication and maintenance services to its Canadian customers. This product line serves a number of markets, including oil and gas customers operating in the oil sands, pulp and paper, mining and industrial markets.
Other
The Company’s Other segment includes the Ventures business unit and other operations. The Ventures business unit invests KBR equity alongside clients’ equity in projects where one or more of KBR’s other business units has a direct role in technology supply, engineering, construction, construction management or operations and maintenance. Project equity investments under current management include defense equipment and housing, toll roads and petrochemicals.
The Company competes with AMEC, Bechtel Corporation, CH2M Hill Companies Ltd., Chicago Bridge and Iron Co., N.V., Chiyoda, DynCorp, Fluor Corporation, Foster Wheeler Ltd., Jacobs Engineering Group, Inc., JGC Corp, John Wood Group PLC, McDermott International, Petrofac PLC, Saipem S.PA., Shaw Group, Inc., Technip, URS Corporation and Worley Parsons Ltd.
After strengthening its position in Eastern Europe in 1993 by forming Brown & Root Skoda in the Czech Republic through a joint venture, the company entered the mid-1990s intent on increasing its operations in the region, where opportunities in oil and gas development abounded. The company's future called for Brown & Root personnel to engage in large-scale, sophisticated construction and engineering projects across the globe. As Brown & Root moved toward this future, its remarkable rise from a small company boasting no more than mortgaged mules and wagons to one of the largest construction and engineering concerns in the world instilled confidence that the years ahead would represent a continuation of its storied past.
Problems Arise in the Late 1990s and Beyond
The years leading into the late 1990s and beyond, however, proved to be perhaps the biggest test of the company's resolve as it was catapulted into the public spotlight due to its relationship with Halliburton. Brown & Root's parent had been growing significantly over the past several years through a series of acquisitions made under the leadership of Dick Cheney, who was named chairman, CEO, and president of Halliburton in 1995. He had served as U.S. Secretary of Defense under President George H.W. Bush and would eventually leave Halliburton in 2000 to join running mate George W. Bush on the Republican ticket in the upcoming presidential election. During his tenure at Halliburton, Cheney orchestrated a number of deals, including a multi-billion dollar merger with Dresser Industries Inc., the parent company of M.W. Kellogg Company. Founded in 1900, Kellogg was acquired by Dresser in 1988 and since that time had made a name for itself in the construction of petroleum and petrochemical facilities. The Halliburton/Dresser union brought Kellogg and Brown & Root together in 1998, forming Kellogg Brown & Root (KBR).
The new KBR proved an instant success, shoring up a host of contract agreements worth billions, including a $1.5 billion contract to expand Malaysia's Bintulu liquefied natural gas complex. While the company remained focused on expanding its business, its parent company began to experience a host of problems related to asbestos claims and investigations into its accounting practices.
Overall, Halliburton had been involved in asbestos-related litigation for years--since 1976 there had been 474,500 claims against the firm for its use of asbestos in certain products. During 2001 and 2002 however, the company faced an onslaught of new claims. Halliburton finally put the litigation to rest in 2002 by agreeing to pay approximately $4.2 billion to settle all outstanding claims. That same year, the Securities and Exchange Commission (SEC) began an investigation into Halliburton's accounting practices. During 1998, when Cheney was in office, the company changed how it booked revenue related to cost overruns on billion-dollar contracts. While the change itself was legal, the firm neglected to report it to shareholders and the SEC for over a year. By making the change, Halliburton was able to meet earnings expectations for 1998--the year of the Dresser merger. Without it, earnings would have fallen short. The SEC began its investigation in May, forcing Halliburton to hand over nearly 200,000 accounting documents to prove that it had not inflated cost overrun claims. The investigation came to a close and Halliburton eventually settled the case with shareholders for $6 million.
As a result of losses brought on by industry conditions and litigation, Halliburton restructured itself in 2002. The company realigned its businesses into two major groups--Halliburton Energy Services Group and KBR, the engineering and construction group. As part of its asbestos settlement, Halliburton placed KBR under bankruptcy protection in 2003. The filing did not include KBR's military and government services business.
While Halliburton struggled under a mountain of negative publicity, KBR also came under fire for its military services role in Iraq. A 2003 Business Week article reported, "The company's high-profile success in winning contracts, coupled with its intimate ties to the White House, has aroused suspicions that it is a beneficiary of political favoritism." Acting as a private military company (PMC), KBR had billed the U.S. government approximately $950 million by 2003 for contracts related to the invasions of Iraq and Afghanistan. The cap on those contracts was set at $8.2 billion. Most of its military-related work came under the Logistics Civil Augmentation Program, or LOGCAP, contract secured in 2001.
A separate contract--capped at $7 billion--was drawn up for KBR in late 2002. As part of the deal, KBR created a contingency plan to handle the possible burning of Iraq's oil fields during a U.S. invasion. KBR was awarded the contract without a bidding process which resulted in outcries of political favoritism that led to an investigation by the General Accounting Office of the U.S. Congress. To make matters worse, Halliburton and its KBR unit, along with other PMCs working in Iraq, were facing criticism from Pentagon officials as well as the Justice Department by early 2004 for quality of work issues and billing and pricing matters. While KBR would no doubt continue to play a significant role supporting the U.S. military, it faced a long and perhaps bumpy road ahead in the years to come.
Principal Competitors: Bechtel Group Inc.; Stolt Offshore S.A.; Technip.
OVERALL
Beta: 1.10
Market Cap (Mil.): $5,674.12
Shares Outstanding (Mil.): 151.55
Annual Dividend: 0.20
Yield (%): 0.53
FINANCIALS
KBR Industry Sector
P/E (TTM): 15.07 40.40 16.98
EPS (TTM): 54.42 -- --
ROI: 14.29 1.11 3.28
ROE: 16.42 1.60 5.91
Statistics:
Wholly Owned Subsidiary of Halliburton Company
Incorporated: 1929 as Brown & Root, Inc.
Employees: 64,000
Sales: $9.27 billion (2003)
NAIC: 541330 Engineering Services; 23493 Industrial Nonbuilding Structure Construction; 23499 All Other Heavy Construction
Key Dates:
1919: Herman Brown starts a road building company named Brown & Root with start-up money from Dan Root.
1929: Root dies; brothers Herman and George Brown incorporate as Brown & Root Inc.
1941: The U.S. Navy begins contracting with the firm.
1961: The company becomes the architect-engineer for NASA's Manned Spacecraft Center.
1962: Halliburton Company acquires Brown & Root.
1998: M.W. Kellogg Company merges with Brown & Root to form Kellogg Brown & Root (KBR).
2002: Halliburton forms two distinct business groups with KBR overseeing its engineering and construction business.
2003: Halliburton places KBR into bankruptcy as a result of a $4 billion asbestos settlement.
Name Age Since Current Position
Utt, William 54 2007 Chairman of the Board, President, Chief Executive Officer
Carter, Susan 52 2010 Chief Financial Officer, Executive Vice President
Calton, Dennis 2011 President - KBR Oil & Gas
Zimmerman, David 57 2007 President - Services
Williams, Mark 53 2010 Group President - Infrastructure, Government and Power Business Unit
Oelking, Roy 58 2011 Group President, Hydrocarbons
Derbyshire, John 2011 President - Technology Business Unit
Farley, Andrew 47 2006 Executive Vice President, General Counsel
Rose, John 65 2011 Executive Vice President - Operations
Brace, Klaudia 54 2010 Executive Vice President - Administration
Baldwin, Dennis 50 2010 Vice President, Chief Accounting Officer
Blount, W. Frank 72 Lead Independent Director
Curtiss, Jeffrey 62 2006 Independent Director
Slater, Richard 64 2006 Independent Director
Carroll, Loren 67 2007 Independent Director
Huff, John 65 2007 Independent Director
Lyles, Lester 64 2007 Independent Director
Address:
601 Jefferson Street
Houston, Texas 77002
U.S.A.