KBR and SK Energy Co. Ltd. Form Joint Venture SK-KBR Technologies Pte. Ltd.
June 30 2010 - 9:00AM
Business Wire
KBR (NYSE:KBR) announced today that it formed a new joint
venture, SK-KBR Technologies Pte. Ltd. (SK-KBR), with Korean-based
SK Energy Co., Ltd. (SK Energy). Under the Shareholders’ Agreement,
SK-KBR is granted exclusive world-wide rights to market and license
SK Energy’s petrochemical and related process technologies on a
global scale.
“This agreement extends KBR Technology’s portfolio in the
petrochemical market and signifies our firm commitment to growth in
this market segment,” said Tim Challand, President, KBR Technology.
“With long-term experience and a proven track record of delivering
innovative technology solutions to customers worldwide, KBR is
confident in its capabilities to successfully introduce SK Energy’s
technologies to the global marketplace.”
“This is a good opportunity to bring together each company’s
strength to the global market. I’m confident that SK Energy’s
cutting edge technologies, along with KBR’s global marketing and
engineering capabilities will deliver new value to clients,” said
Dr. DS Kim, President of SK Energy Institute of Technology (SKEIT).
“With the vision of becoming a technology driven company, SKEIT is
making a major contribution in positioning SK Energy for stronger
future growth globally. SKTPL will help to bolster the value of
SK’s proprietary technologies and enhance its global
reputation.”
KBR is a global engineering, construction and services company
supporting the energy, hydrocarbon, government services, minerals,
civil infrastructure, power and industrial markets. For more
information, visit www.kbr.com
Founded in 1962 as Korea’s first oil refiner, SK Energy (a newly
formed entity of former SK Corporation) is one of the world’s
leading energy and petrochemical companies with 5,629 employees,
US$ 36.4 billion in sales (as of 2008) and 26 offices spanning the
globe. The company is strategically positioned as Korea’s largest
refiner with a refining capacity of 1.15 million barrels per day.
Visit www.skenergy.com
SK Energy’s leadership allows it to maintain competitive
advantages in regional refining markets while penetrating new
markets around the world through a diversified business portfolio.
SK Energy’s rapid growth in its business sectors – coupled with an
expanding position in China – has increased its global footprint
and helped position it as one of the most significant enterprises
in Asia Pacific’s energy marketplace.
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