Jacobs Wins Two Contracts - Analyst Blog
August 28 2013 - 6:55PM
Zacks
Engineering and construction company, Jacobs Engineering
Group Inc. (JEC), recently won a contract from CMPC
Group’s Celulose Riograndense Ltda. Per the contract, Jacobs will
design and supply an integrated chlorine dioxide plant to CMPC’s
pulp expansion project in Guaiba, Río Grande do Sul, Brazil. The
financial details of the contract were not disclosed.
Once complete, the plant is expected to produce roughly 60 tons
(equivalent to 55 metric tonnes) of chlorine dioxide per day.
Jacobs will be engaged in designing, engineering as well as
supplying the main equipment and materials for the plant. For the
purpose, Jacobs will provide its proprietary Chemetics
equipment.
Based in Chile, the CMPC Group is involved in the production and
sales of pulp, paper and other forest products. This is Jacobs’
first integrated chlorine dioxide plantcontract within South
America.
On the same day, Jacobs’ joint venture with Architects Hawaii
Ltd. received a contract from the Naval Facilities Engineering
Command (NAVFAC) Pacific, to provide architecture-engineering
services. The one-year contract is estimated to be worth $10.0
million. The contract, however, has four one-year option
periods.
Under the contract, the joint venture will provide design,
engineering, specification writing, cost estimating and related
services for NAVFAC Pacific projects at various locations.
The continuous contracts flow for Jacobs strengthens our belief
in the company’s future prospects. Jacobs had a backlog of $17.2
billion as on Jun 28, 2013, increasing 10.2% year over year.
Jacobs currently carries a Zacks Rank #3 (Hold). Other stocks
worth a watch in the engineering sector are Michael Baker
Corporation (BKR), VSE Corp. (VSEC) and
Hovnanian Enterprises Inc. (HOV). While Michael
Baker carries a Zacks Rank #1 (Strong Buy), VSE Corp. and Hovnanian
Enterprises carry a Zacks Rank #2 (Buy).
BAKER (MICHAEL) (BKR): Free Stock Analysis Report
HOVNANIAN ENTRP (HOV): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
VSE CORP (VSEC): Free Stock Analysis Report
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