Published on 24 Mar 2023 on Zacks via Yahoo Finance
KBR Acquires Acetica, Fortifies Petrochemicals Value Chain
KBR, Inc. KBR acquired an acetic acid production technology — Acetica. The deal expands KBR's petrochemicals value chain (syngas and acetyls) through a profitable pathway for CO2 utilization.The technology will produce high-value chemicals such as Vinyl Acetate Monomer (VAM), which is a key ingredient in sustainable coatings, adhesives and other materials that support a net-zero transition to a zero-emissions future. Notably, KBR is the only independent global licensor of acetic acid technology.Doug Kelly, KBR’s Technology unit president, said, "As the only independently available acetic acid technology in the global market today, KBR's Acetica enables clients to monetize captured carbon through the production of sustainable, high-value products used in our daily lives."Shares of the company grew 0.31% on Mar 23 and 18.2% in the past six months compared with the industry’s 26.2% growth. Earnings estimates for 2023, which moved up by a cent in the past seven days, reflect a 5.5% year-over-year increase. The trend is likely to continue, given the solid backlog level (including award options).
