News | May 6, 2014

Jacobs Receives Contract From Borealis In Sweden


Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it received a contract from Borealis to provide engineering, procurement, project management and construction management services for a project designed to increase cross-linked polyethylene (XLPE) production capacity at its manufacturing site in Stenungsund, Sweden.

Company officials did not disclose the contract value.

Under the terms of the contract, Jacobs is working to debottleneck an existing XLPE compounding and soaking train and increase the intermediate storage capacity of the XLPE base resin in the upstream polymerization plant. The scope of work involves installation of new silos and conversion of film silos, as well as installation of conveying systems.

Jacobs Group Vice President Mark Bello stated, “We are pleased to continue to support Borealis in its mission to provide high-quality products that create value for society. Because we perform a portfolio of other projects for them, we are able to leverage our experience with their XLPE technology and their Stenungsund cracker plant and maximize the value we can provide on this project.”

Borealis’ proprietary XLPE technology creates plastic of an extremely high level of purity. Borealis is the leading global market supplier of this caliber of material. Borealis’ Stenungsund facilities include a PE plant, a cracker for ethylene and propylene production, and an innovation center focused on research and development for infrastructure markets.

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 2013 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.

Copyright Business Wire 2014

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