PASADENA, Calif., Aug. 7, 2012 /PRNewswire/ -- Jacobs Engineering
Group Inc. (NYSE:JEC) announced today that it has sold its iron ore
pelletizing intellectual property and other assets to Metso
Corporation.
Officials did not disclose the terms of the agreement, but
confirmed the transaction between Jacobs and Metso has closed.
Jacobs and Metso previously shared interests in the straight
grate iron ore pelletizing business, with Jacobs providing process
engineering and Metso providing machine design. Jacobs and Metso
recognized the opportunity to streamline their offerings to
customers by consolidating ownership within Metso through this
sale.
Jacobs plans to continue supporting Metso from its engineering
centers in India and Pittsburgh, Pa., and to continue supporting
customers with Balance of Plant (BOP) engineering and construction
services for iron ore pelletizing projects.
Jacobs Group Vice President Andy
Kremer stated, "We are pleased to announce this sale to
Metso. Jacobs and Metso have a long and successful relationship
working together, and our collaboration is expected to continue.
The sale is intended to facilitate further investment in and
development of the technology, and to strengthen overall services
to customers. Under the new arrangement, both Jacobs and Metso are
well-positioned to benefit from anticipated growth in the iron ore
and iron pellets business."
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.