Jacobs Engineering Group Inc.
NYSE : JEC

Jacobs Engineering Group Inc.

September 27, 2005 07:44 ET

Jacobs Receives Magnox Electric Contract

PASADENA, Calif.--(CCNMatthews - Sep 27, 2005) -

Jacobs Engineering Group Inc. (NYSE:JEC) announced today that they have received a contract from Magnox Electric Limited, a subsidiary of British Nuclear Group, for reactor site resource enhancement at two reactor sites in the United Kingdom.

Officials did not disclose the value of the contract, which has an initial period of two years plus three option years.

Under the terms of the contract, Jacobs is providing senior project management personnel for decommissioning activities at the Bradwell and Chapelcross reactor sites. Magnox Electric Limited is under contract to the Nuclear Decommissioning Authority for management and operation of ten reactor sites in the U.K., four of which are still in operation. The rest of the Magnox stations are at various stages of defuelling or decommissioning.

Jacobs is primarily supporting British Nuclear Group from the U.S., where Jacobs has been a major contractor to the U.S. Department of Energy's decommissioning and cleanup efforts for over 20 years. Jacobs is also providing services from its offices in the U.K.

In making this announcement, Jacobs Group Vice President Mike Higgins stated, "We are honored that British Nuclear Group selected us to support Magnox decommissioning and cleanup activities. This is an important initiative and we look forward to applying our substantial U.K. resources as well as lessons learned from the U.S. to the challenges of cleaning up the Magnox stations."

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