PASADENA, Calif., July 8, 2010 /PRNewswire via COMTEX/ --Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it has signed a Memorandum of Understanding (MOU) with PTT Maintenance and Engineering Company Limited (PTTME), a leading maintenance and engineering contracting company based in Thailand.
The MOU establishes a formal strategic alliance between PTTME and Jacobs to jointly execute projects in Thailand.
PTTME has over 1,153 employees engaged primarily in maintenance, engineering, construction, and plant inspection for the refining, petrochemicals, and utility sectors in Thailand. The company is a subsidiary of PTT Plc and PPT Chemical Plc (PTTCHEM).
Under the alliance agreement, which has a duration of 3 years, Jacobs and PTTME will provide a wide range of services for capital projects to PTTCHEM and other clients in the petrochemical, refining, and utility sectors in Thailand.
In making the announcement, Jacobs Group Vice President, Christopher E. Nagel stated, "This alliance combines Jacobs' global capabilities in technical consulting, large-project execution, and alliances with PTTME's respected maintenance and engineering expertise within the local market. Together, we provide higher levels of value to support our clients in Thailand."
Jacobs is one of the world's largest and most diverse providers of Technical, professional, and construction services.
Any statements made in this release that are not based on historical fact are forward-looking statements. Although such statements are based on management's current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain. We, therefore, caution the reader that there are a variety of factors that could cause business conditions and results to differ materially from what is contained in 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 2009 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 also caution the readers of this release that we do not undertake to update any forward-looking statements made herein.
For additional information contact: Michelle Jones 626.578.6968
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SOURCE Jacobs Engineering Group Inc.