Jacobs Engineering Group Inc.
NYSE : JEC

Jacobs Engineering Group Inc.

July 12, 2005 07:45 ET

Jacobs and MWH Awarded Everglades Program Management Contract Extension

PASADENA, Calif.--(CCNMatthews - Jul 12, 2005) -

Jacobs Engineering Group Inc. (NYSE:JEC) announced today that a subsidiary company and its joint venture partner, MWH Americas, Inc., were awarded a contract extension by the South Florida Water Management District (SFWMD) for its program management services contract.

The contract extension adds five years and $25 million to the current base contract, which brings the contract total to $53 million. This extension is part of a focused effort known as the Acceler8 program during which the SFWMD will construct 8 key projects valued at $1.5 billion to accelerate the Everglades restoration.

The joint venture is providing senior project managers to lead this next phase of the Comprehensive Everglades Restoration Plan, working side-by-side with District staff. The entire Everglades restoration is estimated to cost approximately $8 billion, and will take place over the next 20-30 years.

In making the announcement, Jacobs Group Vice President Allyn Taylor stated, "The Everglades is one of the world's key water resources, and we are excited to continue our support with our joint venture partner MWH on this world-renowned ecosystem restoration program. We believe this will allow us to build upon our world-class program management expertise, and will allow us to continue our long-term relationship with MWH and the District. Through this partnership, the joint venture will assist the District in developing the skills and procedures necessary to deliver major construction programs. We are excited at how this will benefit the client and pay long-term dividends as the South Florida Water Management District and its local, state, and federal partners complete Everglades restoration."

South Florida Water Management District Executive Director Carol Ann Wehle stated, "Designing and building eight restoration projects such as massive reservoirs and treatment wetlands on an accelerated pace is a major undertaking that requires the help and expertise, and technology of our specialized contractors. We look forward to continuing our contract with Jacobs and MWH to help America's Everglades achieve positive benefits much sooner."

Jacobs, with over 35,000 employees and revenues exceeding $5.0 billion, provides technical, professional, and construction services globally.

Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management's best judgement as to what may occur in the future. However, Jacobs' actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Forward-Looking Statements" included in Item 7 -- Management's Discussion and Analysis of Financial Condition and Results of Operations contained in the Company's 2004 Annual Report on Form 10-K.

Contact Information

  • Jacobs Engineering Group Inc.
    Rod Sharp, 626-578-6992