Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it has been selected to provide engineering services for NatureWorks’ new Ingeo™ production plant in Southeast Asia. Ingeo is a biopolymer made from locally abundant renewable plant materials.
Officials did not disclose the contract value, but noted that Jacobs expects to execute the multi-year project primarily from its Greenville, S.C. office.
Under the terms of the contract, Jacobs is providing front-end engineering design work, including major equipment design.
Earlier this year, NatureWorks expanded its flagship Blair, Neb. facility to increase Ingeo capacity to 150,000 metric tons annually. Thailand is currently NatureWorks’ preferred plant location for its second facility.In making the announcement, Jacobs Group Vice President Chris Nagel stated, “We’re delighted to continue our partnership with NatureWorks as they expand support to their clients in the Asia Pacific region and increase their global production efforts.” NatureWorks Director of Manufacturing and Engineering Steve Bray added, “Jacobs has extensive experience in polymer and chemical plant design and construction. This contract is the next stage of what we anticipate will be a three-year project to include detailed engineering design, procurement, construction, and plant start-up.” NatureWorks is jointly owned by Thailand’s largest chemical producer, PTT Global Chemical, and Cargill, an international producer and marketer of food, agricultural, financial, and industrial products and services. 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.
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 Plus 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