New Contract Wins for Jacobs - Analyst Blog
April 10 2013 - 8:50AM
Zacks
Jacobs Engineering Group
Inc. (JEC), a construction services provider, received a
contract from Shell Hong Kong Limited, a subsidiary of
Royal Dutch Shell Plc. (RDS.A), for Shell’s
Transformer Oil Project based in Hong Kong. The contract value was
not disclosed.
Royal Dutch Shell is a group of
energy and petrochemical companies while Shell Hong Kong Limited
deals in retail, commercial fuel, bitumen, marine and chemical
businesses.
The oil project located at Tsing Yi
installation site is involved in the supply of oil, gas and natural
products to Hong Kong and Macau. According to the contract, Jacobs
will offer design engineering services for the terminal facility
through its China operations in Hong Kong and Macau.
This is not the first contract
between Jacobs and Shell. Earlier last month, Jacobs received a
contract from Shell for its operations in Australia. This
continuous flow of contracts portrays a strong relationship between
the two companies displaying the trust and efficiency employed by
both.
On the same day, Jacobs inked
another contract, being a renewal of a previous deal, with NASA for
its Manufacturing Support and Facility Operations Contract
(“MSFOC”) at the George C. Marshall Space Flight Center’s Michoud
Assembly Facility (“MAF”). The contract based in New Orleans, La.,
values roughly $138.0 million.
This agreement is a renewal of the
initial contract between the two parties inked on May 12, 2009, to
provide manufacturing support and facilities operations management
services. The earlier contract involved three base years along with
two option years, the second of which has been initiated
now.
MAF helps the space program teams
with the production of large aerospace structures at a single
location. Also, MAF supports the manufacture and development of
hardware like Space Launch Systems to facilitate the American space
exploration plans.
Jacobs currently carries a Zacks
Rank #2 (Buy). Other stocks worth a look in the technical services
industry are AECOM Technology Corporation (ACM)
and Mistras Group Inc. (MG); both carrying a Zacks
Rank #2 (Buy) as well.
AECOM TECH CORP (ACM): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
MISTRAS GROUP (MG): Free Stock Analysis Report
ROYAL DTCH SH-A (RDS.A): Free Stock Analysis Report
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