PASADENA, Calif.--(BUSINESS WIRE)--
Jacobs
Engineering Group Inc. (NYSE:JEC) announced today it has entered a
share purchase agreement (SPA) to transfer operations within its Jacobs
France subsidiary to NOX SARL in France.
The transaction value was not disclosed, and was settled in cash at
completion.
Jacobs President and CEO Steve Demetriou stated, “We carefully reviewed
our strategy for our Jacobs France subsidiary, and a sale to NOX evolved
as the preferred solution for all parties. The business in France fits
well with NOX and supports the company’s ambitions for continued growth
amongst its core market segments.
“For Jacobs, this represents our continued efforts to streamline our
overall operational efficiency in regions that fit within our target
markets and geographies.”
The Jacobs France subsidiary has offices located in Paris, Lyon, Le
Havre and Aix en Provence, and a workforce of approximately 250
employees.
The transfer to NOX enables the business to continue sustainable
development under the new ownership combining complementary strengths in
the engineering market in France and internationally.
NOX has some 400 employees across 30 locations in France and worldwide.
It provides global expertise across engineering public and private
partnerships, project management, investments and real estate services.
Jacobs is one of the world’s largest and most diverse providers of
full-spectrum technical, professional and construction services for
industrial, commercial and government organizations globally. The
company employs 60,000 people and operates in more than 30 countries
around the world. For more information, visit www.jacobs.com.
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 2015 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.