Jacobs Receives Contract for Paints Plant in India
May 24 2016 - 7:45AM
Business Wire
Jacobs Engineering Group Inc.
(NYSE:JEC) announced today it received a contract from Asian Paints
Limited (APL) to provide engineering services for a greenfield
paints plant near Visakhapatnam in Andhra Pradesh, India. This is
Jacobs’ second consecutive order from APL in India, following a
similar contract awarded in late 2015.
Under the terms of the contract, Jacobs is expected to provide
detailed engineering and construction supervision services for the
project. The contract duration is approximately 3 years.
The new facility is expected to have an initial production
capacity of 300,000 kiloliters per annum (KLPA) of decorative
paints.
In making the announcement, Jacobs Senior Vice President India
& Asia Vinayak Pai stated, “We are very happy to continue our
relationship with APL. We recognize this plant is a strategically
important part of APL’s expansion program in the Indian market and
that this order demonstrates APL’s trust and confidence in our
capabilities. I’m confident our global experience in the chemical
industry combined with our strong local knowledge will contribute
significant value to this project."
APL is India’s leading and Asia’s second largest paints company,
with 26 manufacturing facilities spread across 19 countries.
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 2015 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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version on businesswire.com: http://www.businesswire.com/news/home/20160524005069/en/
Jacobs Engineering Group Inc.Robin Shermer, 817-735-6284
Jacobs Engineering (NYSE:JEC)
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