PASADENA, Calif., June 26, 2012 /PRNewswire/ -- Jacobs Engineering
Group Inc. (NYSE:JEC) announced today it was awarded a design
contract from Saudi Kayan Petrochemical Company, an affiliate of
Saudi Basic Industries Corporation (SABIC), to develop a process
design package (PDP) and front end engineering design (FEED)
package for the build of
an ultra-high-molecular-weight polyethylene (UHMWPE)
plant in the Industrial City of Jubail in the Kingdom of Saudi Arabia.
Officials did not disclose the value of the contract that will
be executed from Jacobs' Winnersh, UK and Al-Khobar offices.
UHMWPE is used in many industrial applications including
batteries and industrial fibers. This plant is to have a
production capacity of 35,000 tonnes per year using ethylene
sourced from Kayan's existing olefins plant and is of significant
strategic importance as SABIC is to use its own technology.
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.
Jacobs Group Vice President Bob
Irvin stated, "We are delighted to have been awarded this
high profile project, which we take to be both a statement of our
Client's confidence in our ability to deliver strategic projects of
this nature and the commencement of what we hope will be a
significant and long-term relationship with SABIC that will drive
mutual benefits to our businesses and build upon our presence and
future capability in the Kingdom of Saudi
Arabia."
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.