Halliburton to Complete Split With KBR
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Halliburton, the oil field services provider, said yesterday that it would complete its separation from KBR Inc. by offering current stockholders the remaining 81 percent stake in KBR, its former subsidiary.
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An order signed Monday by a federal bankruptcy judge in Pennsylvania clears the way for Halliburton&#39;s KBR unit to emerge from bankruptcy by year&#39;s end, according to the Houston company.
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Halliburton Co.&#39;s multibillion dollar contract for work to support US troops in Iraq will be put back up for bids, according to a published report.
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Halliburton Co. HAL.N on Thursday  said it would restructure its embattled KBR unit and may shed  the business if the oil services company's stock performance  keeps lagging its peers.
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Houston-based Halliburton Co. will lay off workers at its KBR subsidiary as part of a cost-cutting program and could sell the business if the company&#39;s stock performance does not improve.
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Halliburton Co. may decide not to submit new bids for the logistics contracts it holds in Iraq if the U.S. military divides up the work too deeply, Chief Executive Officer Dave Lesar said on Tuesday.
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KBR Inc.  and its former corporate parent Halliburton Co.  have been sued by four women claiming they suffered sexual harassment and, in two cases rape, by co-workers while working for KBR in Iraq, the Houston Chronicle reported on its Website Friday.
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Halliburton said Monday the U.S. Army had decided to give the company more time to resolve a billing dispute before withholding payment of up to 15 percent of the company's bills in Iraq and Kuwait.
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The Army awarded a contract worth up to $150 billion to feed, house and provide other services to U.S. troops in Iraq, Afghanistan and Kuwait, spreading among three companies work that recently had been linked to a single, controversial contractor: Halliburton.
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Halliburton HAL.N said on Monday  the U.S. Army had decided to give the company more time to  resolve a billing dispute before withholding payment of up to  15 percent of the company's bills in Iraq and Kuwait.
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The Army will rebid the multibillion-dollar contract under which a Halliburton Co. subsidiary has been providing services to troops around the world after years of complaints over how the deal has worked in Iraq.
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Halliburton Co.  said on Thursday it would restructure its KBR unit and may shed the business if the oil services company's stock performance keeps lagging its peers.
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The U.S. Army plans within months to  break up Halliburton Co.'s contract to provide support services  for U.S. troops in Iraq -- valued at up to $13 billion -- and  open the work to competitive bids, The Wall Street Journal said  on Tuesday, citing an internal Army memorandum.
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HOUSTON - Oilfield services giant Halliburton Co. on Tuesday swung to a loss in the third quarter ended Sept. 30, hurt by hefty charges from discontinued operations related to the settlement of asbestos and silica claims.
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The U.S. Army is laying the groundwork  to let Halliburton Co. keep several billion dollars paid for  work in Iraq that Pentagon auditors say is questionable or  unsupported by proper documentation, the Wall Street Journal  reported on Friday.
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Halliburton Co. said Thursday it is restructuring its troubled engineering and construction subsidiary, and would consider selling or spinning it off should the division&#39;s stock performance fail to improve once costly asbestos litigation is resolved.
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Halliburton Co. said Thursday it would restructure its KBR unit and may shed the business if the company's stock performance continues to lag behind peers.