PASADENA, Calif.--(BUSINESS WIRE)--
Jacobs
Engineering Group Inc. (NYSE:JEC) announced today it received
a contract from Asian Paints Limited (APL) to provide engineering
services for a greenfield paints plant near Visakhapatnam in Andhra
Pradesh, India. This is Jacobs’ second consecutive order from APL in
India, following a similar contract
awarded in late 2015.
Under the terms of the contract, Jacobs is expected to provide detailed
engineering and construction supervision services for the project. The
contract duration is approximately 3 years.
The new facility is expected to have an initial production capacity of
300,000 kiloliters per annum (KLPA) of decorative paints.
In making the announcement, Jacobs Senior Vice President India & Asia
Vinayak Pai stated, “We are very happy to continue our relationship with
APL. We recognize this plant is a strategically important part of APL’s
expansion program in the Indian market and that this order demonstrates
APL’s trust and confidence in our capabilities. I’m confident our global
experience in the chemical industry combined with our strong local
knowledge will contribute significant value to this project."
APL is India’s leading and Asia’s second largest paints company, with 26
manufacturing facilities spread across 19 countries.
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 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.