KBR Ramps Up Petrochemicals Value Chain Via Acquisition Of Acetica Technology - KBR (NYSE:KBR)

Engineering company KBR Inc KBR has acquired an acetic acid production technology, Acetica. The financial terms were not disclosed.
The company expects the acquisition to expand its petrochemicals value chain through a profitable pathway for CO2 utilization.
The technology will enable the back-integration of CO2 from carbon capture to produce high value chemicals such as Vinyl Acetate Monomer (VAM), which is a key ingredient in sustainable coatings, adhesives, and other materials.
"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," said Doug Kelly, KBR President, Technology.
KBR held $389 million in cash and equivalents as of Dec. 31, 2022.
Price Action: KBR shares closed lower by 1.43% at $51.81 on Wednesday.