Jacobs Engineering Group Inc. (NYSE:JEC) announced today it was awarded a contract from Rio Tinto Minerals (RTM) to provide engineering, procurement and construction management (EPCM) services for its plant expansion project in Boron, Calif.
Officials are currently estimating the total project value at approximately $150 million.
The expanded plant is designed to increase capacity and to use RTM’s new technology, Modified Direct Dissolving of Kernite Ore (MDDK), a process which allows sodium borate and boric acid production to continue until end of mine life.
In making the announcement, Jacobs Group Vice President Mike Autrey stated, “We are pleased to continue our 50 year relationship with U.S. Borax/RTM as they expand to meet market demands. Our aggressive value engineering efforts have enabled our joint teams to create optimal business solutions for Rio Tinto.”Rio Tinto Minerals is a global leader in industrial mineral supply and science, providing nearly half the world’s supply of refined borates. 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 2012 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.
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