PASADENA, Calif., April 17, 2012 /PRNewswire/ -- Jacobs Engineering
Group Inc. (NYSE:JEC) announced today that it was awarded a
contract from Saudi Basic Industries Corporation (SABIC) to provide
engineering, procurement, and construction management (EPCM)
services to support the upgrade of an Olefins 4 plant at SABIC's
petrochemical production complex in Geleen, The Netherlands.
Officials did not disclose the contract value; however, they
noted that the project is scheduled to be completed in 2013 as part
of the scheduled plant turnaround. Jacobs is executing the work
from its office in Meerssen, The
Netherlands, which is close to the site.
The project involves numerous modifications to the existing
Olefins 4 naphtha cracker, which are expected to result in a
significant increase of energy efficiency as well as increased
ethylene production capacity.
In making the announcement, Jacobs Group Vice President
Robert Matha stated, "We are
extremely pleased to receive this new contract for SABIC at Geleen.
Jacobs has supported SABIC's business goals at the Geleen site for
many years and we are proud to expand our relationship in this
way."
"The SABIC team looks forward to work with Jacobs and extend our
successful business relation of many years," said Jacques Slabbers,
SABIC's Director, Manufacturing Services Europe. "This is a very
important project for the future of the Geleen site in general and
a significant improvement in the sustainability performance and
competitiveness of the Olefins 4 cracker in particular."
SABIC, headquartered in Riyadh,
ranks among the world's top petrochemical companies and is a market
leader in the production of polyethylene, polypropylene, and other
advanced thermoplastics, glycols, methanol, and fertilizers. In
Europe, SABIC has 12 world-scale
production facilities that manufacture polyethylenes,
polypropylenes, engineering thermoplastics, and chemical
precuts.
The manufacturing complex at Geleen is one of SABIC's major
sites. An extensive network of local sales offices and logistical
hubs is responsible for sales of SABIC products as well as those
manufactured elsewhere in the world. In addition, SABIC has three
research facilities based in the region, which form part of its
global Technology and Innovation organization.
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.
(Logo:
http://photos.prnewswire.com/prnh/20110628/LA26838LOGO)
For additional information contact:
Michelle Jones
626.578.6968
SOURCE Jacobs Engineering Group Inc.