Jacobs Receives Contract from RailCorp in Australia
Signifies Growth Potential in Australian Infrastructure
PASADENA, Calif.--(BUSINESS WIRE)-- Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it has been selected to be on the Design Review Panel of Rail Corporation New South Wales (RailCorp) in Sydney, Australia. The appointment represents an important step in Jacobs strategy to expand its infrastructure business in Australia.
Officials did not disclose the contract value but noted that the duration of the contract is three years, with options for multiple one-year extensions.
As a member of RailCorps Design Review Panel, Jacobs is providing major design input into the verification and validation processes for rail capital projects.
Jacobs Group Vice President Tom Quinn stated, We are very pleased to support RailCorps projects by serving on the Design Review Panel. Jacobs has identified excellent prospects here in Australia in the infrastructure sector, as well as in the oil and gas and mining and minerals sectors. We see considerable opportunities to leverage our local and global experience, adding full project life cycle value to our clients assets.
Reinforcing this capability, Jacobs also recently finalized the acquisition of a small infrastructure consulting project management business based in Sydney.
RailCorp is a government agency that provides passenger rail services within New South Wales, Australia, where several large rail projects are currently being implemented to meet the transport needs of Sydney's growth areas.
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 managements 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.
Jacobs Engineering Group Inc. (JEC)
Source: Jacobs Engineering Group Inc.Copyright Business Wire 2012