JGC Corporation Announces Sale of Affiliate Interests to KBR
JGC Corporation today announced that it will be selling its 44.94% share interest in M.W. Kellogg Limited (MWKL) to KBR. MWKL is a UK-based affiliate of both companies.
Following the transaction, MWKL will become a wholly-owned subsidiary of KBR. The transaction is expected to be finalized in January 2011.
KBR (NYSE: KBR) is headquartered in Houston, Texas, also known as the energy capital of the world. The Company employs over 50,000 people worldwide in locations that include the U.S., Australia, Africa, the U.K., Asia and the Middle East. KBR delivers a wide range of services through its Downstream, Gas Monetization, Infrastructure and Minerals, International Government and Defense, North American Government and Defense, Oil and Gas, Power and Industrial, Services, Technology, and Ventures business segments, and differentiates itself as a technology-driven engineering, procurement and construction (EPC) company.
JGC Corporation (TSE:1963), established in 1928, is one of Japan's leading engineering companies. It has executed over 20,000 projects in more than 70 countries, and has a strong background in lump-sum turnkey operations of both hydrocarbon and non-hydrocarbon related projects. While expanding its core businesses in engineering, procurement and construction (EPC), JGC has continuously developed its investment business, and has been active in the field of energy-related infrastructure including power-generation, desalination, bio-ethanol, renewable energies, and others. The company draws on a wide range of technologies, expertise and extensive experience accumulated through its EPC businesses.
Published 20/12/2010
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