Houston — On Dec. 31, 2015, KBR, Inc. finalized the sale of its Infrastructure Americas business to Stantec Consulting Services Inc. The sale of Infrastructure Americas, a business within the Non-Strategic Business Group, is consistent with the company's restructuring plans announced in December 2014.
"We are pleased to continue the business transformation we set out to accomplish last year and selling non-strategic operations such as the Infrastructure America's business, is an important part of that strategy," said Stuart Bradie, KBR President and CEO. "This represents another step in our efforts to make KBR more streamlined, customer-focused, and cost effective, so we can deliver on our promises to our customers and shareholders."
The transaction's price is $19 million, subject to working capital adjustments, and will be reflected in the fourth quarter 2015 financial results.