Jacobs Receives Contract from SABIC for Chemical Plant in The Netherlands
PASADENA, Calif., April 17, 2012 /PRNewswire/ — Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it was awarded a contract from Saudi Basic Industries Corporation (SABIC) to provide engineering, procurement, and construction management (EPCM) services to support the upgrade of an Olefins 4 plant at SABIC’s petrochemical production complex in Geleen, The Netherlands.
Officials did not disclose the contract value; however, they noted that the project is scheduled to be completed in 2013 as part of the scheduled plant turnaround. Jacobs is executing the work from its office in Meerssen, The Netherlands, which is close to the site.
The project involves numerous modifications to the existing Olefins 4 naphtha cracker, which are expected to result in a significant increase of energy efficiency as well as increased ethylene production capacity.
In making the announcement, Jacobs Group Vice President Robert Matha stated, “We are extremely pleased to receive this new contract for SABIC at Geleen. Jacobs has supported SABIC’s business goals at the Geleen site for many years and we are proud to expand our relationship in this way.”
“The SABIC team looks forward to work with Jacobs and extend our successful business relation of many years,” said Jacques Slabbers, SABIC’s Director, Manufacturing Services Europe. “This is a very important project for the future of the Geleen site in general and a significant improvement in the sustainability performance and competitiveness of the Olefins 4 cracker in particular.”
SABIC, headquartered in Riyadh, ranks among the world’s top petrochemical companies and is a market leader in the production of polyethylene, polypropylene, and other advanced thermoplastics, glycols, methanol, and fertilizers. In Europe, SABIC has 12 world-scale production facilities that manufacture polyethylenes, polypropylenes, engineering thermoplastics, and chemical precuts.
The manufacturing complex at Geleen is one of SABIC’s major sites. An extensive network of local sales offices and logistical hubs is responsible for sales of SABIC products as well as those manufactured elsewhere in the world. In addition, SABIC has three research facilities based in the region, which form part of its global Technology and Innovation organization.
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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SOURCE Jacobs Engineering Group Inc.