Jacobs Awarded Contract from Braskem

Work is Expected to Modernize and Expand Propylene Splitter Assets

Jul 24, 2012, 07:45 ET from Jacobs Engineering Group Inc.

PASADENA, Calif., July 24, 2012 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE: JEC) announced today it has been selected to provide professional technical services for Braskem, the largest thermoplastic resin producer in the Americas, at portions of the Marcus Hook Refinery they recently acquired, near Philadelphia, Pa.

Officials have not disclosed the contract value. Jacobs' operations in Mt. Laurel, N.J. and Conshohocken, Pa. are expected to execute the work.

Braskem acquired propylene splitter assets at the 781-acre refinery complex in late June. Jacobs' initial scope of work includes retrofitting the new acquisitions so Braskem can more efficiently process propylene for use in its adjacent polypropylene plant.

In making the announcement, Jacobs Group Vice President Bob Pragada stated, "We are excited to work with Braskem on this project. Since this past December, Pennsylvania officials have tried to identify potential uses for the refinery.  Braskem's acquisition and capital investment is hopefully the first step in re-purposing the complex as a multi-purpose energy processing facility."

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.

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For additional information contact: Michelle Jones 626.578.6968

 

 

SOURCE Jacobs Engineering Group Inc.



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