Sign of the Times: KBR-Halliburton Turning Around?
The Associated Press has reported that Halliburton is restructuring its engineering and construction subsidiary, KBR, and that KBR “is on the road to a turnaround,” according to Cris Gaut, Halliburton’s CFO.
KBR chief executive Andrew Lane said KBR would reduce its five product lines to two to improve profitability. The subsidiary will focus on its energy and chemicals and government and infrastructure divisions.
"KBR's strength is in engineering and project management, and with this new alignment we plan to further capitalize on our core company strengths and capabilities," Lane said.
Coupled with KBR’s successful, if controversial, work in Iraq, it would appear to be one more sign that the process industries -- and with them process automation -- are again on the upsurge.