JEC Wins Deal, Signs Resource Pact - Analyst Blog
January 19 2012 - 3:30AM
Zacks
Recently, Jacobs
Engineering Group Inc. (JEC) announced winning of a
contract from the Washington State Department of Transportation
(WSDOT). As per the contract, the company will be providing design
services for fire and life safety systems improvements within the
Mount Baker and Mercer Island tunnels along I-90 in the Seattle
metro area.
The company’s design effort will
focus on multiple systems within the existing tunnels, including
fire detection and suppression, ventilation, emergency egress,
intelligent transportation and illumination. This system upgrade is
expected to add a High Occupancy Vehicle (HOV) lane through the
tunnels, and prepare the highway corridor for the future extension
of light rail between Seattle and the cities of Bellevue and
Redmond.
The above contract extends Jacobs
work history with WSDOT on the I-90 Corridor since1980s. The value
of the contract has not yet been disclosed.
In a separate story, Jacobs signed
a resource protocol for the recruitment of employees from Magnox
Limited to Jacobs' United Kingdom operations. The resource protocol
is expected to provide Jacobs access to a highly skilled pool of
talent in order to augment and develop its various teams of experts
providing life cycle services to the nuclear industry.
Jacobs shares a long history of
working with Magnox and the later is involved in safely delivering
the company’s business objectives. This resource protocol
strengthens the tie and increases career choices for Magnox staff
and is anticipated to help them develop their careers within UK
nuclear industry—primarily related to nuclear decommissioning,
nuclear power and electricity generation, or within defense
projects.
Jacobs, the world's largest and
most diverse providers of technical, professional, and construction
services, directly competes with its peers, viz. Fluor
Corporation (FLR) and Foster Wheeler AG
(FWLT).
We currently have a Neutral
recommendation on the stock. Jacobs has a Zacks #4 Rank, implying a
short-term (1-3 months) Sell 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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