PASADENA, Calif., Feb. 28, 2012 /PRNewswire/ -- Jacobs
Engineering Group Inc. (NYSE: JEC) announced today it has been
awarded a contract from Solvay for a major, specialty polymers
production plant to be built at Solvay's industrial site in
Changshu, which is located in the province of Jiangsu, China.
Officials estimate the contract value to be approximately
US$9 million (RMB 62 million). Jacobs is executing the
engineering, procurement and construction management (EPCM)
services contract from its Shanghai operations in China.
Solvay is investing approximately US$160
million (EUR 120 million) into
this plant, which will produce its products SOLEF® PVDF and
TECNOFLON® FKM, as well as its essential VF2 monomer. The plant is
scheduled to become operational in the first quarter of 2014 and is
expected to significantly boost Solvay's global production capacity
for these specialty polymers.
Jacobs Group Vice President Tom
Quinn stated, "We look forward to contributing to this large
and significant project for Solvay, drawing upon our strong,
sector-relevant technical and project management skills to support
the project."
SOLVAY is an international chemical group committed to
sustainable development with a clear focus on innovation and
operational excellence. Its recent acquisition of specialty
chemicals company Rhodia created a much larger player, which is
realizing over 90% of its sales in markets where it is among the
top three global leaders. Solvay offers a broad range of products
that contribute to improving the quality of life and the
performance of its customers in markets such as consumer goods,
construction, automotive, energy, water and environment, and
electronics. The Group is headquartered in Brussels, employs about 30,000 people in 55
countries and generated EUR 12
billion in sales (pro forma) in 2010. Solvay SA is listed on
NYSE Euronext (SOLB.BE - Bloomberg: SOLB.BB - Reuters:
SOLBt.BR).
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.