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EPC

McDermott Emerges from Chapter 11, with $4.6B Wiped from Debt

McDermott Emerges from Chapter 11, with $4.6B Wiped from Debt

Houston-based McDermott International Ltd. has emerged from voluntary bankruptcy and cleared nearly all of its $4.6 billion debt off the books. The engineering, procurement and contracting (EPC) giant, which launched restructuring through Chapter 11 early this year, emerged with a $2.4 billion letter of credit capacity and $544 million of funded debt. “We will continue…

July 2, 2020
KBR Exit from Energy Business to Benefit Other EPCs in U.S. LNG Build-Out

KBR Exit from Energy Business to Benefit Other EPCs in U.S. LNG Build-Out

KBR Inc. is exiting the energy business to expand its core government and technology businesses, leaving a handful of North American liquefied natural gas (LNG) projects to seek out new engineering, procurement and construction (EPC) contractors. In an investor presentation earlier this month, CEO Stuart Bradie said the decision to exit “the blue-collar construction and…

June 25, 2020