Technical, professional and construction services provider, Jacobs Engineering Group Inc. (JEC - Analyst Report)’s VELA alliance with the London based AMEC plc received a contract from Magnox Limited. The financial terms of the deal were not disclosed.
Per the contract, the VELA alliance will be engaged in helping Magnox’s United Kingdom based decommissioning program, through the provision of management resources. Along with this, the deal bestows VELA with the responsibilities of providing coaching, skills development and employment opportunities to the Magnox employees.
The deal is an extension of the 2011 Magnox Resource Transfer Protocol formed with the alliance. This renewal of contract is seen as a successful implementation of the previous responsibilities by the alliance. All the three parties associated with the contract are believed to benefit from the experience and expertise of one another in the long run.
Jacobs has achieved a degree of success in its project implementation techniques, alone as well as in various alliances. Also, it actively participates in other research projects. Around a week back, Jacobs entered into a research program with the Texas Medical Center’s National Center for Human Performance (TNCHP). The study relates to the enhancement of safety factors for athletes.
The company was involved in the experiments conducted at the NASA JSC Vibration & Acoustic Test Facility, which helped students from the Texas-based Rice University and The Kinkaid School collect the useful data. The main purpose of this study is to improve and encourage activities in various fields ranging from arts to sports.
Jacobs currently bears a Zacks Rank #3 (Hold). Other stocks to watch out for in the engineering industry are Michael Baker Corporation , carrying a Zacks Rank #1 (Strong Buy); while, Harris & Harris Group, Inc. and Quanta Services, Inc. (PWR - Analyst Report) carry a Zacks Rank #2 (Buy), each.