Jacobs Receives Contract from Evonik for New Chemical Plant
PASADENA, Calif., May 8, 2012 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE: JEC) announced today it was awarded a contract from Evonik Industries AG to provide basic engineering services for an investment in a grassroots polyamide 12 production facility in Asia.
Officials did not disclose the contract value.
Jacobs has been working closely with Evonik's project team in Marl, Germany to develop the conceptual design for the new plant, which is based on Evonik's existing plants in Germany. Members of the integrated project team are operating from Jacobs' office in Leiden, The Netherlands to undertake the FEED work, supported by Jacobs' office in Mumbai, India.
Under a separate framework contract signed in 2011, Jacobs is providing engineering services as the Owner's Engineer on Evonik's process industry projects worldwide.
In making the announcement, Jacobs Group Vice President Robert Matha stated, "Jacobs has formed a rewarding relationship with Evonik through demanding projects in Europe, the U.S., and Asia. We are very pleased to build on our global relationship by executing this next phase of Evonik's investment in Asia."
Evonik is one of the world's largest specialty chemicals companies. It has production facilities in 28 countries. As currently planned, the new facility is expected to support the growing demand in Asia for Evonik's advanced polymer product.
Jacobs is one of the world's largest and most diverse providers of technical, professional, and construction services.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our 2011 Form 10-K, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
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