Jacobs Engineering SA Announces Acquisition of Team Maroc
PASADENA, Calif., June 22, 2012 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE: JEC) and OCP S.A (OCP) announced today their intent to acquire 100 percent of the shares of Team Maroc through their Casablanca-based joint venture, Jacobs Engineering SA (JESA).
Officials did not disclose the terms of the agreement.
Team Maroc is a Moroccan, full service engineering and management consultancy firm. The firm, headquartered in Rabat and currently employing 171 people, provides consulting and engineering services including studies, work monitoring and supervision, technical assistance, traffic and transport surveys and socio-economic impact studies. These services are offered for large scale projects for road infrastructure, highways, water supply, and a variety of building types.
The acquisition of Team Maroc is expected to enhance JESA's presence in Morocco's infrastructure business, complementing the current JESA phosphate business and enabling the merged entities to expand their client base and address new markets. The combination of resources is expected to broaden JESA's capabilities and increase its workforce through Team Maroc's complementary business culture and expertise.
In making the announcement, Jacobs Group Vice President Robert Matha stated, "By combining the energies and skills of JESA and Team Maroc, we can build stronger client partnerships and expand our reach as a leading engineering company in the region."
Amar Drissi, OCP Vice President in charge of Operations, commented: "This acquisition is a major milestone in JESA's growth strategy. Thanks to strong synergies and enhanced HR capabilities, the company will be well-equipped to efficiently address the national and international markets."
Anis Balafrej Team Maroc Chairman and CEO stated : "Thanks to this alliance, Team Maroc strengthens its human and technical capabilities, extends its international reach, and enhances its capacity to satisfy its clients needs and to deliver complex projects."
JESA is equally owned by OCP and Jacobs. Jacobs and OCP entered into the joint venture in 2010. JESA offers a combination of engineering, project management and construction management resources and provides services to industrial projects both in Morocco and internationally.
OCP is a major global company specialized in manufacturing and marketing of phosphate products.
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.
For additional information contact:
John W. Prosser
SOURCE Jacobs Engineering Group Inc.