Jacobs Engineering Group Inc.
NYSE : JEC

Jacobs Engineering Group Inc.

June 28, 2005 07:46 ET

Jacobs Receives Contract for New PET Plant

PASADENA, Calif.--(CCNMatthews - Jun 28, 2005) -

Jacobs Engineering Group Inc. (NYSE:JEC) announced today that a subsidiary company was awarded a contract for detailed engineering and procurement for Equipolymers S.r.l.'s new polyethylene terephthalate (PET) plant at Ottana in Sardinia, Italy. Equipolymers S.r.l. is subject to the direction and coordination of Equipolymers B.V., a joint venture between The Dow Chemical Company and Petrochemicals Industries Co. (K.S.C.) of Kuwait.

The contract value was not disclosed.

In making the announcement, Jacobs Group Vice President Andy Kremer stated, "We are very pleased with Equipolymers' decision to award this contract to us. Our strategic partnership demonstrates that we deliver cost-effective solutions in support of their strategic business objectives. We look forward to continuing to support their stated goal of becoming a world leader in the PET business."

Equipolymers CEO and President Flavio Terruzzi stated, "We are very proud of this achievement, which reinforces our full commitment to our customers, and look forward to the start-up of the new plant in Ottana. This investment is consistent with our global business growth strategy and our commitment to supply the market for the long-term."

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