Jacobs Acquires Controlling Interest in Suzhou Han’s Chemical Engineering Company
April 22 2015 - 7:45AM
Business Wire
Jacobs Engineering Group Inc. (NYSE:JEC) announced today that
its subsidiary, Jacobs Projects (Shanghai) Co., Ltd., has acquired
a controlling interest in Suzhou Han’s Chemical Engineering Co.,
Ltd. (SHCE) in China. The company is now Jacobs Engineering
(Suzhou) Co., Ltd.
SHCE has two specialty Class A design licenses in China’s
Chemical, Petrochemical and Pharmaceutical (CPP) industry, which
allow the firm to provide engineering design for all types of
chemical projects in China irrespective of project size; plus
procurement and project management services for various projects in
China. Jacobs’ Shanghai operation currently has an industry Class B
design license for the CPP industry in China, and has successfully
executed a substantial number of EPCM projects for global clients
investing in China.
In addition to enhancing Jacobs’ capabilities in China by
bringing the Class A design licenses, the acquisition adds an
engineering office in Suzhou, Jiangsu Province, and brings Jacobs’
personnel count in China to more than 500. These combined resources
enable Jacobs to offer customers in China a complete spectrum of
services for all types of chemical and petrochemical projects.
Upon making the announcement, Jacobs Group Vice President Kevin
McMahon stated, “This acquisition represents a significant
milestone for Jacobs’ growth strategy in China. Since it was
founded in 2006, SHCE has completed more than 200 projects with an
exemplary safety record. The acquisition of SHCE greatly enhances
our service offerings to clients, strengthens our ability to
compete for projects, and provides more opportunities for our
employees.”
SHCE Chairman Mr. James Han added, “We welcome this acquisition
by Jacobs and look forward to our integration with Jacobs
operations, which we expect to be completed in the coming months.
SHCE has a strong track record of servicing many Chemical,
Petrochemical and Pharmaceutical clients in China, and we look
forward to expanding our service offering with the addition of
Jacobs’ global reach and extensive experience.”
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 2014 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.
Jacobs Engineering Group Inc.Michelle Jones, 626-578-6968
Jacobs Engineering (NYSE:JEC)
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