Jacobs Engineering Group Inc. (NYSE:JEC) announced today that its BEAR Scotland joint venture with Breedon Aggregates and Eurovia has been awarded a contract from Transport Scotland to oversee the operation and maintenance of key roads in the northwest of Scotland.
Transport Scotland currently estimates the total contract value to the joint venture to be approximately $160 million (£175m) over five years, with the option to extend the contract for an additional five years.
The Scottish trunk roads and motorway network is divided into four geographical units, each serviced by a separate maintenance contract. Under the terms of the BEAR Scotland contract, the joint venture is performing maintenance and safety inspection services on 814 miles of roads and 2,372 structures in the country’s northwest region.
In making the announcement, Jacobs Group Vice President Bob Duff stated, "We have established a solid relationship with Transport Scotland through our previous work with them and we look forward to further strengthening the relationship with this new contract. We are very pleased to continue supporting the agency’s road network strategy by helping to improve and maintain Scotland’s roads."Transport Scotland is the national transport agency for Scotland and is an executive agency of the Scottish Government. 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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