Further Leverages Integrated Capabilities to Support Client Investments in Europe
PASADENA, Calif. -- (BUSINESS WIRE) -- May. 14, 2013 -- Jacobs Engineering Group Inc. (NYSE:JEC) announced today it has renewed its frame agreement with Borealis for work at its facilities in Stenungsund, Sweden.
Officials did not disclose the contract value, however noted that under the terms of the five year frame agreement, Jacobs is providing engineering, procurement, project management and construction management services on a variety of projects, each of which is expected to have a total installed cost varying in range up to $11 million.
Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. The only polyethylene (PE) producer in Sweden, Borealis’ Stenungsund facilities include a PE plant, a cracker for ethylene and propylene production, and an innovation center focused on research and development for infrastructure markets.
Jacobs Group Vice President Mark Bello stated, “We are very pleased to renew our frame agreement with Borealis. This is the continuation of a ten-year working relationship between Jacobs and Borealis in Sweden. We appreciate their confidence in our performance, and are committed to continue to support Borealis’ investment needs.”
Principally focused on wire, cable and pipe manufacturing applications, Borealis in Sweden supports customers with specialty plastics for some of the largest energy supply, oil and water pipeline projects in the world.
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 2012 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.
Source: Jacobs Engineering Group Inc.
Jacobs Engineering Group Inc.
Michelle Jones, 626.578.6968