Contract Galore For JEC - Analyst Blog
December 22 2011 - 3:30AM
Zacks
Jacobs Engineering Group
Inc. (JEC) recently announced winning of a series of
contracts.
The company’s Chemetics unit in
Pickering, Ontario, Canada was awarded a design and fabrication
contract by Aurubis Bulgaria AD. The contract involves installation
of two proprietary designed sulfuric acid coolers in the acid plant
in Pirdop, Bulgaria. The range of operations entails the
design and fabrication of drying and interpass anodically protected
sulfuric acid coolers.
The contract has been awarded to
Jacobs by Aurubis, a leading integrated copper group and the
world's largest copper recycler. Jacobs' Chemetics unit had a long
and successful work relationship with the Pirdop facility since
1998 for projects starting from acid coolers to Electrolyte
Heaters.
Jacobs’ recent contract from the
U.S. Army Corps of Engineers Baltimore District for
architect-engineering services in support of multi-disciplined
construction projects along with alterations and renovations
deserves special mention. This contract will not only deliver
facilities in support of the Army missions, but will also revive
and perpetuate the long history of supporting the Baltimore
District. The contract is valued at the firm-fixed-price of $12
million.
In a separate announcement, Jacobs
proclaimed winning of a contract from Honeywell to provide
engineering services for the expansion of its Baton Rouge, La.
manufacturing facility. Jacobs will be executing the project work
from its offices in Mt. Laurel, N.J.
The Baton Rouge facility, one of
the leading refrigerants suppliers in the U.S., will now be
supported by Jacobs to produce Honeywell's new
low-global-warming-potential (GWP) blowing agent and propellant
(technical name: HFO-1234ze) on a commercial scale. Production of
HFO-1234ze is scheduled to begin in late 2013.
The project involves Jacobs being
part of a cutting edge next-generation technology targeted to
improve the energy efficiency for a multitude of applications.
Jacobs’ worldwide ever-increasing
presence is thus a splendid indication of its strong growth
trajectory in the infrastructure market across the globe. This has
also been winning investor confidence over time and is expected to
continue with such an outlook in future. The company directly
competes with its peers, viz. Fluor Corporation
(FLR) and Foster Wheeler AG (FWLT).
We currently hold a Neutral
recommendation on the stock. Jacobs has a Zacks #2 Rank, implying a
short-term (1-3 months) Buy rating.
FLUOR CORP-NEW (FLR): Free Stock Analysis Report
FOSTER WHELR AG (FWLT): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
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