Press Release Jun 19, 2012

Jacobs Receives Contract from Chevron Phillips Chemical

  • Save to favorites
    Share with your friends

PASADENA, Calif., June 19, 2012 /PRNewswire/ -- Jacobs Engineering Group, Inc. (NYSE: JEC) announced today it was awarded a contract from Chevron Phillips Chemical Company LP (CPChem) to provide front end engineering and design (FEED) services for two polyethylene facilities.

Officials did not disclose the contract value.

The two polyethylene facilities planned are part of CPChem's U.S. Gulf Coast (USGC) Petrochemicals Project, to be located on a site in Old Ocean, Texas near the Chevron Phillips Chemical Sweeny facility. Each facility is expected to utilize CPChem's proprietary Loop Slurry Technology.

In making the announcement, Jacobs Group Vice President Mike Autrey stated, "We look forward to expanding our long standing relationship with Chevron Phillips Chemical and are enthusiastic to contribute to the success of the U.S. Gulf Coast Petrochemical Project."

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:

Michelle Jones

626.578.6968



SOURCE Jacobs Engineering Group Inc.