PASADENA, Calif., June 22, 2012 /PRNewswire/ -- Jacobs
Engineering Group Inc. (NYSE:JEC) and OCP S.A (OCP) announced today
their intent to acquire 100 percent of the shares of Team Maroc
through their Casablanca-based
joint venture, Jacobs Engineering SA (JESA).
Officials did not disclose the terms of the agreement.
Team Maroc is a Moroccan, full service engineering and
management consultancy firm. The firm, headquartered in
Rabat and currently employing 171
people, provides consulting and engineering services including
studies, work monitoring and supervision, technical assistance,
traffic and transport surveys and socio-economic impact studies.
These services are offered for large scale projects for road
infrastructure, highways, water supply, and a variety of building
types.
The acquisition of Team Maroc is expected to enhance JESA's
presence in Morocco's
infrastructure business, complementing the current JESA phosphate
business and enabling the merged entities to expand their client
base and address new markets. The combination of resources is
expected to broaden JESA's capabilities and increase its workforce
through Team Maroc's complementary business culture and
expertise.
In making the announcement, Jacobs Group Vice President
Robert Matha stated, "By combining
the energies and skills of JESA and Team Maroc, we can build
stronger client partnerships and expand our reach as a leading
engineering company in the region."
Amar Drissi, OCP Vice President
in charge of Operations, commented: "This acquisition is a major
milestone in JESA's growth strategy. Thanks to strong synergies and
enhanced HR capabilities, the company will be well-equipped to
efficiently address the national and international markets."
Anis Balafrej Team Maroc Chairman and CEO stated :
"Thanks to this alliance, Team Maroc strengthens its human
and technical capabilities, extends its international reach, and
enhances its capacity to satisfy its clients needs and to deliver
complex projects."
JESA is equally owned by OCP and Jacobs. Jacobs and OCP entered
into the joint venture in 2010. JESA offers a combination of
engineering, project management and construction management
resources and provides services to industrial projects both in
Morocco and internationally.
OCP is a major global company specialized in manufacturing and
marketing of phosphate products.
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:
John W. Prosser
626.578.6803
SOURCE Jacobs Engineering Group Inc.