KBR Proprietary Technology Selected to Produce Eco-Friendly Paints
HOUSTON, Jan. 3, 2023 /PRNewswire/ -- KBR (NYSE: KBR) announced today that its proprietary Vinyl Acetate Monomer (VAM) technology has been selected by Asian Paints Limited for a grassroots production facility in India.
Under the terms of the contract, KBR will provide technology licensing, basic engineering, proprietary equipment, and catalyst for a 100,000 tons per annum VAM facility. KBR’s VAM technology is offered in alliance with Showa Denko K.K., based in Japan.
“We are excited to support Asian Paints’ vision to produce environmentally friendly paints using our VAM technology,” said Doug Kelly, KBR president, Technology. “In addition to delivering a sustainable solution, this project will drive significant cost efficiencies for Asian Paints by integrating their manufacturing and supply chain and reducing import of raw materials.”
KBR has more than 50 years of experience in delivering technologies, flexible solutions and expertise that petrochemicals operators rely on to produce ethylene, propylene, acetyls, phenolics, vinyls and other specialty products from a variety of feedstocks, safely and efficiently.
We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 28,000 people performing diverse, complex and mission critical roles in 34 countries.
KBR is proud to work with its customers across the globe to provide technology, value-added services, and long- term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.
About Asian Paints
Asian Paints is India’s leading paint and decor company and ranked among the top ten decorative coatings companies in the world with a consolidated turnover of ₹ 29,101.28 crores (₹ 291 billion) with a market capital of approx. ₹ 3100 billion. Asian Paints along with its subsidiaries have operations in 15 countries across the world with 27 paint manufacturing facilities, servicing consumers in over 60+ countries. Asian Paints also offers a wide range of home decor products and is an emerging strong player in the home improvement and decor space in India.
Forward Looking Statement
The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company’s control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the significant adverse impacts on economic and market conditions of the COVID-19 pandemic and the company’s ability to respond to the resulting challenges and business disruption; the recent dislocation of the global energy market; the company’s ability to manage its liquidity; the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; changes in capital spending by the company’s customers; the company’s ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company’s ability to control its cost under its contracts; claims negotiations and contract disputes with the company’s customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; the possibility of cyber and malware attacks; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.
The company’s most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other U.S. Securities and Exchange Commission filings discuss some of the important risk factors that the company has identified that may affect its business, results of operations and financial condition. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
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SOURCE KBR, Inc.