Jacobs Engineering Group Inc. (NYSE:JEC) announced today that its joint venture with CH2M HILL received a contract from Sound Transit of Seattle, Wash. for the Northgate Link Extension Project.
The seven-year construction management contract has a value of $75.5 million.
The Jacobs/CH2M HILL team is currently working together on Sound Transit’s University Link (U-Link) Project, a light rail extension connecting downtown Seattle and the University of Washington to the north. The Northgate Link Project is extending the line 4.2 miles farther north from the University to the urban village of Northgate, and includes two 3.6-mile twin bored tunnels, two underground stations, and an arterial guideway with a light rail station. This expansion greatly increases transit capacity to the highest ridership corridor in the region.
In making the announcement, Jacobs Group Vice President Kevin McMahon stated, “We are very pleased to be selected for this important extension project, and to have the opportunity to continue leveraging our resources to deliver high quality construction management services for Sound Transit.”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 2011 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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV