GAO Confirms TRANSCOMS Household Goods Contract Award For KBR Led JV

KBR Inc (NYSE:KBR) revealed the General Accounting Office's (GAO) decision to uphold the U.S. Transportation Commands Global Household Goods Contract award.
Under this contract, HomeSafe Alliance, a joint venture between KBR and Tier One Relocation, will modernize and infuse technology to improve the domestic and international relocation experience for all military personnel and their families.
The contract ceiling value is ~$20 billion with a potential 9-year term, including options.
KBR plans to begin start-up activities in mid-2022 with full contract performance during 2023.
Related: KBR Led JV Secures $20B Contract From US Transportation Command
Price Action: KBR shares are trading lower by 0.40% at $55.00 during the pre-market session on Monday.