Jacobs Engineering Group Inc.

Jacobs Engineering Group Inc.

July 06, 2005 07:45 ET

Jacobs Receives Contract from INEOS Phenol for Antwerp Plant Expansion

PASADENA, Calif.--(CCNMatthews - Jul 6, 2005) -

Jacobs Engineering Group Inc. (NYSE:JEC) announced today that a subsidiary company has received a contract from INEOS Phenol to provide engineering, procurement, and construction management services for the expansion of INEOS Phenol's phenol and acetone plant in the port of Antwerp, Belgium. The project also makes proprietary improvements to INEOS Phenol's cumene-based phenol and acetone process.

Officials did not disclose the contract value. Mechanical completion is scheduled for June 2006.

The expansion will raise phenol capacity from 470 to 680 kilotons per year by altering one of two existing lines in the plant. During construction, production will continue at maximum rates; tie-in of the new equipment will occur during a partial shut-down at project completion. After the expansion, the Antwerp site will become the largest phenol and acetone plant in the world.

In making the announcement, Jacobs Group Vice President Andy Kremer stated, "We are very pleased to contribute to the continuous growth of our client and look forward to realizing this expansion project in a safe and efficient manner."

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