PASADENA, Calif., Dec. 6, 2011 /PRNewswire/ -- Jacobs
Engineering Group Inc. (NYSE: JEC) announced today it was awarded a
contract to provide engineering and procurement services for a
newly formed joint venture between Honeywell and
Sinochem.
Officials did not disclose the construction value but did
announce that production is expected to start in late 2013. The
work is being executed by Jacobs' operations in Mt. Laurel, N.J. and Shanghai, China.
The joint venture, to be located in Taicang, Jiangsu Province, plans to produce HFC-245fa,
a non-ozone-depleting rigid foam blowing agent used in insulation
for appliances, construction, transportation and other applications
where maximum energy efficiency is required. Honeywell's newly
launched next generation HFO lower-global-warming-potential blowing
agent – Solstice™ Liquid Blowing Agent -- may also be produced by
the joint venture.
In making the announcement, Jacobs Group Vice President
Bob Pragada stated, "We are excited
to work with Honeywell and Sinochem to meet the need for more
energy efficient and environmentally compliant industrial materials
in the world."
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.
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For additional information contact:
Michelle Jones
626.578.6968
SOURCE Jacobs Engineering Group Inc.